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A Polygeneration system with production of both chemicals and power is a promising option for fossil fuel utilization. The configuration of a polygeneration system has a significant effect on its performance, energy and component utilization character, and flexibility of production capacity ratio. The polygeneration system of hybrid type, which bears the configuration characters of both parallel and sequential polygeneration systems, is proposed and its performance feature is investigated. The relation between the main parameters and performance are described by analytical equations. For this system, the main parameters affecting the energy utilization level are the ratio of the exergy consumed in the chemical subsystem to that consumed in the power subsystem, and the exergy efficiency of the chemical subsystem. The parameters effect on the system is described qualitatively and quantitatively. Through system simulation the energy utilization level and effective component conversion character of the system are analyzed. It is identified that the hybrid polygeneration system has a wide range of energy saving rate, from 2% to 14%, covering the energy saving range of parallel and sequential type. Compared with the parallel and sequential type,the hybrid polygeneration system has more freedom on performance distribution with better performance, that is to say it has an excellent performance at each designed production capacity ratio.