Abstract: The existing market research on new energy mainly focuses on new energy consumption, while the value characteristics of the entire life cycle of new energy are not comprehensively considered. In this paper, the construction of a southern regional green power market system with the entire life cycle of new energy taken into account is conducted. Firstly, the current situation and challenges of green power trading in southern China are analyzed. A framework for the southern regional green power market system is construct then, covering planning, trading and implementation. After that, the key mechanisms of the southern regional green power market are proposed, including price mechanism, settlement mechanism, multi-cost power supply trading on the same platform, capacity guarantee mechanism and green card management mechanism. The implementation path of the green power market system is presented afterwards. Finally, multi-scenario case analysis is performed to verify the effectiveness of the green power market system in southern region.