An original, variational formulation of the Virtual Element Method (VEM) is proposed, based on a Hu–Washizu mixed variational statement for 2D linear elastostatics. The proposed variational framework appears to be ideal for the formulation of VEs, whereby compatibility is enforced in a weak sense and the strain model can be prescribed a priori, independently of the unknown displacement model. It is shown how the ensuing freedom in the definition of the strain model can be conveniently exploited for the formulation of self-stabilized and possibly locking-free low order VEs. The superior performances of the VEs formulated within this framework has been verified by application to several numerical tests.