This paper investigates the radiation properties of two coupled split-ring resonators (SRRs). Due to electromagnetic coupling, two hybrid magnetic plasmon modes were induced in the structure. Our calculations show that the radiation loss of the structure was greatly suppressed by the hybridization effect. This led to a remarkable increase in the Q-factor of the coupled system compared to the single SRR. By adjusting the distance between the two SRRs, the Q-factor changed correspondingly due to different electromagnetic coupling strengths. This resulted in a coupled structure that functioned as a new type of nanocavity with an adjustable Q-factor.