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Summary: As the uncertainty of renewable energy output brings more and more risks to the day‐ahead dispatch of the power grid, an optimization scheduling strategy of a smart energy system based on improved master‐slave game model is proposed. Risk factors related to the uncertainties of renewable energy are introduced into the master‐slave game model. Taking the smart energy system as the leader and the end users as the follower, an optimized operation model of the smart energy system based on the improved master‐slave game model is established, which is transformed into a single‐layer linear programming model according to the Karush‐Kuhn‐Tucher conditions and the duality theorem. The benefits of the system and electric vehicle users in four application scenarios are obtained by the YALMIP algorithm and the sensitivity affecting the economics of the smart energy system is analyzed. The validity of the model is verified by a simulation analysis of actual operation data from the smart energy system in China. The simulation results show that the method proposed in this paper can increase the revenue of the smart energy system by 7%, reduce the risk cost and charging cost of electric vehicle users by 63.92% and 48.34%. [ABSTRACT FROM AUTHOR]