In a hybrid vehicle, when a required driving force is equal to or smaller than a first upper limit driving force, a control device sets a target driving force to the required driving force. When the required driving force is larger than the first upper limit driving force, the control device sets a target compensation power of a power storage device, based on a difference between the required driving force and the first upper limit driving force. The control device sets a second upper limit driving force of a driveshaft when an upper limit power is output from an engine and the power storage device is charged or discharged with a power based on the target compensation power. The control device sets a target driving force to the smaller between the required driving force and the second upper limit driving force. This configuration suppresses deterioration of the driver's drive feeling.