The proposed BOECMS (Bi-Object Equivalent Consumption Minimization Strategy) possesses three key features: being real-time, causal and capable of fulfilling two objects, namely, (i) minimized fuel consumption, and (ii) the battery SOC (State Of Charge) steadily retained within a relatively narrow range. A HEV (Hybrid Electric Vehicle) model and its corresponding power split strategy are developed and verified by using the vehicle simulator ADVISOR (ADvanced VehIcle SimulatOR) and Simulink at design stage. According to the computer simulation results, the degree of the improvement of fuel economy is up to 40.39 % in terms of 'MANHATTAN' drive cycle in comparison to the conventional pure ICE (Internal Combustion Engine) vehicles. Moreover, the experimental results by HIL (Hardware-In-the-Loop) are pretty close to the computer simulations undertaken by Simulink. This implies that the proposed energy management strategy, BOECMS, can be potentially applied to the real-world driving in the future.