A two-state forward dynamic programming algorithm is evaluated in a series hybrid drive-train application with the objective to minimize fuel consumption when look-ahead information is available. The states in the new method are battery state-of-charge and engine speed. The new method is compared to one-state dynamic programming optimization methods where the requested generator power is found such that the fuel consumption is minimized and engine speed is given by the optimum power-speed efficiency line. The other method compared is to run the engine at a given operating point where the system efficiency is highest, finding the combination of engine run requests over the drive-cycle that minimizes the fuel consumption. The work has included the engine torque and generator power as control signals and is evaluated in a full vehicle-simulation model based on the Volvo Car Corporation VSIM tool. Lowest fuel consumption is obtained by the new two-state method, with 12 % less fuel consumed compared to operating the engine in the system efficiency sweet spot.