A multi-component hydrogel was developed using bacterial cellulose, alginate, and gelatin with the aid of glycerol as trihydric alcohol which participates in re-distribution of hydrogen bonds in the test system. FTIR, XRD, SEM, and TGA as instrumental techniques were used to structurally characterize the physical/chemical properties of the formed composite hydrogel. By using an exponential equation, swelling behavior of the hydrogel was evaluated. By incorporating a model drug (methylene blue—MB) in the formed hydrogel, experiments were directed to study release characteristics of the MB where the medium solution for the release was prepared at four different pHs. The maximum cumulative drug release at pH 2.8, 6, 7.4, and 9 were 42.8, 63, 80, and 84.5%, respectively. Data fitting process was carried out using five kinetic models (Korsmeyer-Peppas, Higuchi, Hopfenberg, zero-order, and first-order equations) and the preferred kinetic model at each pH was estimated by applying TOPSIS algorithmic technique. The adsorption capacity of the hydrogel in relation to MB was determined while thermodynamic properties of this relationship were quantified ($$\Delta{\text{H}}_{\text{ad}}^{0}= \text{ } -\text{99.95 kJ} \, {\text{mo}}{\text{l}}^{-{1}}$$
Δ
H
ad
0
=
-
99.95 kJ
mol
-
1
and $$\Delta{\text{S}}_{\text{ad}}^{0}= -\text{0.237 kJ} \, {\text{mo}}{\text{l}}^{-{1}} {\text{K}}^{-{1}}$$
Δ
S
ad
0
=
-
0.237 kJ
mol
-
1
K
-
1
). The results of the present study were in favor of the potential usage of the developed composite hydrogel in drug delivery systems.