The hybrid dc circuit breaker (HCB) has the advantages of fast action speed and low operating loss, which is an ideal method for fault isolation of multi-terminal dc grids. For multi-terminal dc grids that transmit power through overhead lines, HCBs are required to have reclosing capability due to the high fault probability and the fact that most of the faults are temporary faults. To avoid the secondary fault strike and equipment damage that may be caused by the reclosing of the HCB when the permanent fault occurs, an adaptive reclosing scheme based on traveling wave injection is proposed in this paper. The scheme injects traveling wave signal into the fault dc line through the additionally configured auxiliary discharge branch in the HCB, and then uses the reflection characteristic of the traveling wave signal on the dc line to identify temporary and permanent faults, to be able to realize fast reclosing when the temporary fault occurs and reliably avoid reclosing after the permanent fault occurs. The test results in the simulation model of the four-terminal dc grid show that the proposed adaptive reclosing scheme can quickly and reliably identify temporary and permanent faults, greatly shorten the power outage time of temporary faults. In addition, it has the advantages of easiness to implement, high reliability, robustness to high-resistance fault and no dead zone, etc.