Scarless　wound　healing　represents　a　formidable　clinical　challenge,　primarily　due　to　the　complex　pathophysiology　of　scar　formation　and　the　limited　availability　of　therapeutic　strategies.　Here,　we　developed　an　injectable　dynamic　hydrogel　co-loaded　with　adipose-derived　mesenchymal　stem　cells　(ADMSCs)　and　verteporfin　(VP)　for　enhanced　scarless　wound　healing.　The　hydrogel　matrix　was　prepared　through　dopamine-grafted　oxidation　of　hyaluronic　acid　and　carbohydrazide-modified　gelatin　via　Schiff　base　reaction　and　catechol-mediated　chemical　bondings,　exhibiting　good　injectability　and　self-healing　properties.　Moreover,　the　dynamic　reversible　cross-linked　network　of　hydrogels　mimics　extracellular　matrix　conditions　to　provide　an　adaptable　microenvironment　for　ADMSCs.　Additionally,　the　encapsulated　ADMSCs　exert　angiogenesis　and　wound　closure　effects　by　releasing　various　cytokines　during　the　early　stage　of　wound　healing,　while　secreting　antifibrotic　factors　to　reduce　scar　formation　in　later　stages.　Notably,　the　sustained　release　of　VP　from　the　hydrogel　matrix　effectively　inhibits　scar　formation　through　Yes-associated　protein　signaling　pathway　modulation.　In　vivo　evaluation　using　both　rat　full-thickness　skin　defect　and　rabbit　ear　hypertrophic　scar　models　demonstrated　the　hydrogel＇s　high　efficacy　in　promoting　scarless　tissue　regeneration.　The　presented　multifunctional　hydrogel　platform,　which　integrates　stem　cells　and　chemical　drugs,　offers　a　promising　therapeutic　strategy　for　scarless　wound　repair.　©　2025　The　Author(s)