A hybrid vehicle is capable of performing regenerative operations of generator-motors disposed adjacently to front wheels and/or rear wheels of the vehicle so as to achieve efficient conversion of kinetic energy of the vehicle into electric energy as much as possible when the vehicle slows down, thereby permitting higher use efficiency of energy. When the vehicle decelerates, a target deceleration force or a target deceleration torque of the vehicle is set, and a permissible maximum value of the braking torque to be imparted to rear wheels from a second generator-motor is set, and the permissible maximum value and the target deceleration torque of the vehicle, whichever is smaller, is set as a target braking torque to be imparted from the second generator-motor to the rear wheels. Furthermore, with the remaining torque of the target deceleration torque being set as an upper limit, a target braking torque to be imparted to front wheels from a first generator-motor is determined, and a friction type braking mechanism compensates a shortfall torque of a total sum of the target braking torques of the two generator-motors to reach the target deceleration torque.