Abstract: To address the increasing regulation complexity caused by the tight coupling of multiple energy flows and the coordinated operation of multiple entities in a regional integrated energy system, a multi-microgrid collaborative optimization method based on the Stackelberg game was proposed. First, a comprehensive demand response model integrating electricity, heat, and cooling energy forms was constructed based on the load characteristics and energy consumption patterns of each microgrid. On this basis, a Stackelberg leader-follower game framework was established, with the system operator as the upper-level decision-maker and a wind farm, an energy storage station, and microgrid load aggregators as the lower-level responders. Within this framework, the upper-level model employed the Black Widow Optimization algorithm to iteratively optimize energy selling prices and demand response compensation rates, thereby guiding end-users to adjust their energy consumption behavior. The lower-level model cooperatively optimized the charging/discharging strategies of the energy storage station, the output schedule of the wind farm, and the operational plans of multi-energy conversion equipment within the microgrids, providing a basis for dispatch decisions to the upper-level operator. Simulation results indicate that the proposed multi-microgrid model effectively coordinates the interests among the system operator, the microgrids, and the users, significantly enhancing the enthusiasm of all parties to participate in dispatch. The overall economic benefit of the system is improved by 1.4% to 3.5%, and the adopted Black Widow Optimization algorithm demonstrates a 6% to 10% improvement in solving efficiency compared to traditional methods. This research breaks through the limitations of the traditional single-energy-form, single-entity dispatch mode and fixed pricing mechanism, providing theoretical support and methodological references for the multi-agent collaborative optimization and efficient operation of regional integrated energy systems.