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This paper proposes a methodology to attain the optimal generation scheduling of hybrid AC/DC microgrids. The hybrid microgrid consists of AC and DC networks with respective generation and demand resources that are connected by bi-directional AC/DC converters. The proposed methodology leverages decentralized optimization framework that uses the dispatch of the AC/DC converter to facilitate the coordinated operation of AC and DC networks. The presented framework utilizes an iterative approach to determine the optimal operation schedule for the hybrid AC/DC microgrid using distinct optimization problems. The results illustrate the effectiveness of the presented approach for operation planning of hybrid AC/DC microgrids.