Topology of the of interconnection network is one of the most important considerations in the design of parallel systems as it is the backbone network over which the different components of the computer communicate with each other. The properties of the topology such as connectivity, reliability, cost, fault tolerance, diameter and bisection width determine the flawless-less data transmission between the source and the sink nodes. In this paper, we propose a new hybrid interconnection network topology called TOR-CUBE (TC) which is a product of two classical popular interconnection topologies namely hypercube and torus. Further, we show the construction and characteristics of the proposed interconnection topology. We also presented some basic important properties and formulated two routing algorithms for TC. Our results show that the proposed interconnection topology has high connectivity, lesser diameter, low cost, fault tolerant, scalable and low average distance. The different reliability measures of TC are computed and found to be better as compared with its counterpart topologies and the parent topologies.