In this paper, we propose a novel hierarchical finite-time optimization regulation algorithm for multiple autonomous surface vehicles (ASVs) to achieve cooperative tracking of a time-varying target. An objective function reflecting the energy consumption of the multiple ASVs system in the tracking process is designed, and a finite-time optimal estimator (FTOE) is developed to minimize the objective function in the case that ASVs form a specified formation while following the desired trajectory. Meanwhile, the target trajectory can be variable instead of constant. In the finite-time local controller (FTLC), the sailing states of the the multiple ASVs system can be stabilized to the vicinity of the multiple various predefined time-varying trajectories in finite time in a way that minimizes the objective function by tracking the FTOE. The proof of the finite-time stability is provided and the settling time is calculated. Finally, simulation results demonstrate the effectiveness of the proposed hierarchical algorithm.