[Objective] Hydrogen energy storage has the characteristics of high energy density and high power. Unitized regenerative fuel cell (URFC) is highly integrated hydrogen storage systems, but their application in distributed DC microgrids has been rarely reported. When combined with electrical energy storage, they hold significant potential in islanded microgrid applications. Economic dispatch is a critical issue in islanded microgrids, as they consist of various generation units with different generation costs and power outputs. Coordinating the output of these units to achieve optimal overall economic operation is a complex optimization problem. [Methods] This paper proposed an improved distributed economic control strategy based on the incremental cost (IC) consensus distributed algorithm, which ensured the lowest system cost when the IC of all generation units was equal. Additionally, a specific node was designed to achieve high-quality voltage restoration. Considering the power limitations of each generation unit, corresponding constraints were incorporated into the algorithm to ensure the feasibility of the dispatch results. Finally, simulations were performed using Matlab/Simulink, and a comparative analysis was conducted on the system’s dynamic response performance, economic performance, and stability under different operating conditions. [Results] Simulation results showed that the proposed control strategy could effectively achieve voltage restoration and significantly enhance the reliability and power quality of the photovoltaic-hydrogen storage islanded DC microgrid. Under various disturbances and load changes, the system could quickly recover to a stable state. Compared with traditional methods, the proposed strategy exhibited notable advantages in both economic efficiency and dynamic performance. [Conclusion] The distributed economic control strategy proposed in this paper exhibits good flexibility and adaptability. In practical applications, the node responsible for voltage restoration can dynamically switch to other power units based on power constraints, ensuring continuous and stable operation of the system. Meanwhile, nodes no longer participating in dispatch can be disconnected from the communication network, reducing the communication burdens. This design enhances the system’s fault tolerance and scalability.