In order to realize the fusion of altimeter wind speed and radiometer wind speed, the Kriging method is used to interpolate radiometer wind speed to the altimeter path to obtain the altimeter wind speed observation operator, a cost function is established, and then the variational method is adopted to construct and analyze wind speed and derive fusion results. Simulation tests are carried out when only altimeter wind speed contains error, only radiometer wind speed contains error, both altimeter and radiometer wind speed contain error. The results show that through the variational fusion, the accuracy is improved, especially in the altimeter path. The Jason-1 altimeter cycle 241 wind speed data and spatial temporally matched Special Sensor Microwave Imager Sounder wind speed data (carried by Defense Meteorological Satellite Program F17) are selected to carry out the real test, and the results show that the fused wind speed is more close to the buoy observation, so it is confirmed that the variational fusion method is effective, statics shows that 60% altimeter and radiometer data matched, which means that fusion is an important theory and has application value. The variational fusion method can be applied to the fusion of HY-2 satellite altimeter and radiometer wind inversion results.