Alternatives to Hyper-V
Microsoft's type-1 hypervisor built into Windows and Windows Server for running Windows and Linux virtual machines. The listings below can replace it for an important use case. Each note says what changes if you switch.
The original
Hyper-V
Microsoft's type-1 hypervisor built into Windows and Windows Server for running Windows and Linux virtual machines.
Replacements
Listings that take over the same core job as Hyper-V.
Microsoft Hyper-V
A type-1 hypervisor built into Windows Server and Windows for creating and running virtual machines.
Microsoft Hyper-V is the same built-in Windows type-1 hypervisor listed separately, so moving to it changes nothing about platforms, price or guest support.
VMware Workstation Pro
Type-2 hypervisor for running virtual machines on Windows and Linux desktops.
VMware Workstation Pro is a type-2 hypervisor for Windows and Linux desktops with mature snapshots and cloning, free for personal use but needing a paid licence commercially.
VirtualBox
The free desktop hypervisor most people start with: run Windows, Linux or BSD in a window on the machine you already have.
VirtualBox is a free GPL desktop hypervisor that also runs on macOS and Linux and works on Windows Home, though its 3D acceleration is weak.
VMware ESXi Free
Industry-standard bare-metal hypervisor with a free tier for small setups.
VMware ESXi Free is a closed-source bare-metal hypervisor that needs dedicated hardware instead of running inside Windows, and its free edition lacks centralized vSphere management.
Proxmox VE
A bare-metal server platform that runs KVM virtual machines and LXC containers from one web interface.
Proxmox VE is an open-source AGPL server platform that runs KVM virtual machines and LXC containers from a web interface, installed as its own operating system on dedicated hardware.
Also worth comparing
These listings name Hyper-V as their own alternative, so the relationship runs both ways.
KVM
The Linux kernel's built-in hypervisor for hardware-accelerated virtual machines.
Hyper-V is Microsoft's closed-source type-1 hypervisor built into Windows Pro, Enterprise and Server, so it replaces a Linux host with a Windows one.
QEMU
The machine emulator and virtualiser that most of the Linux virtualisation stack is built on.
Hyper-V is a closed-source type-1 hypervisor built into Windows Pro, Enterprise and Server, with no cross-architecture emulation and no Home edition support.
Windows Sandbox
A disposable, isolated Windows desktop built into Windows 10 and 11 for running untrusted software.
Hyper-V runs persistent Windows and Linux virtual machines built into Windows Pro and Server, requiring manual VM setup instead of a fresh disposable desktop.
Windows Subsystem for Linux
Runs unmodified Linux command-line tools and applications directly on Windows, without a virtual machine or dual boot.
Hyper-V runs full Linux virtual machines on Windows Pro, Enterprise or Server, giving a separate guest system rather than Linux tools integrated into Windows.
XCP-ng
Open-source bare-metal hypervisor built on Xen, managed through Xen Orchestra.
Hyper-V is a closed-source type-1 hypervisor built into Windows Server and Windows, so hosts run Windows instead of a dedicated Xen-based system.
Xen Project
An open source type-1 hypervisor that runs several isolated operating systems on the same hardware.
Hyper-V is Microsoft's closed source type-1 hypervisor built into Windows and Windows Server, running Windows and Linux guests without separate installation.
XenServer
A Xen-based server virtualization platform for running and managing virtual machines on your own hardware.
Hyper-V is Microsoft's type-1 hypervisor built into Windows Server and Windows at no extra cost, running Windows and Linux guests on Windows hosts only.
Similar software
Related functionality, not a direct replacement.
Vagrant
Builds reproducible development virtual machines from a single file.
Veeam Backup & Replication
Windows backup server that protects virtual machines, physical machines, NAS shares and cloud workloads.
Multipass
Canonical's tool for launching a fresh Ubuntu virtual machine with one command, on Windows, macOS or Linux.