Designed to meet the demands of AGV global optimal path planning and dynamic obstacle avoidance, this paper proposes a combination of an improved A* algorithm and dynamic window method fusion algorithm. Firstly, the heuristic function is dynamically weighted to reduce the search scope and improve the planning efficiency; secondly, a path-optimization method is introduced to eliminate redundant nodes and redundant turning points in the path; thirdly, combined with the improved A* algorithm and dynamic window method, the local dynamic obstacle avoidance in the global optimal path is realized. Finally, the effectiveness of the proposed method is verified by simulation experiments. According to the results of simulation analysis, the path-planning time of the improved A* algorithm is 26.3% shorter than the traditional A* algorithm, the search scope is 57.9% less, the path length is 7.2% shorter, the number of path nodes is 85.7% less, and the number of turning points is 71.4% less. The fusion algorithm can evade moving obstacles and unknown static obstacles in different map environments in real time along the global optimal path.