Because of the steady increase of wind and solar capacity installations in recent years, the goal of the Paris Agreement is expected to be reached. However, due to the intermittent characteristics of renewable generation, challenges are presented for the power grid to operate reliably and economically under the high uncertainty of wind and solar power productions. Sufficient responsive reserves must be available for the power grid to maintain the balance between the supply and demand. To be fair to the market participants, the renewable generation companies should pay for the received grid ancillary services. In this paper, an optimal combined operation scheme is proposed for pumped storage hydro and hybrid wind-photovoltaic complementary power generation system interconnected by a Voltage Source Converter-based multi-terminal HVDC system. The optimal combined operation scheme has two real-time control functions. The pumped storage hydro control function enables automatic dispatch of the pumped storage hydro to effectively suppress or compensate for the output deviations of wind and solar generation from the forecasted production; and the output control function is able to distribute the non-compensated production surplus or deficit to different ac systems based on the market regulating service prices. A Case study is provided to demonstrate the improved power generation profile and reduced revenue losses of the pumped storage hydro and hybrid wind-photovoltaic complementary power generation system.