We report on a millijoule-level fiber–solid hybrid hundred-picosecond laser system with a stable performance and compact structure. The laser system is based on a master oscillator power amplifier structure containing an all-fiber master oscillator, a quasi-continuous-wave side-pumped Nd:YAG regenerative amplifier, and a double-pass amplifier. By using the filtering effect of fiber Bragg grating and the dispersion characteristics of single-mode fiber stretcher, the spectrum broadening caused by self-phase modulation effect is effectively suppressed. Thus, the gain linewidth of the Yb-doped fiber seed source and Nd:YAG laser amplifiers is accurately matched. The reason for thermally induced depolarization in the solid-state laser amplifier is theoretically analyzed, and a more flexible depolarization compensation structure is adopted in amplifier experiment. Furthermore, the pulse energy of 14.58 mJ and pulse width of 228 ps is achieved at 500 Hz repetition rate. The central wavelength is 1064.1 nm with a 3 dB bandwidth of 0.47 nm. The beam quality factors in the horizontal and vertical directions are 1.49 and 1.51, respectively. This laser system has a simple and compact structure and has a power stability of 1.9%. The high pulse energy and beam quality of this hundred-picosecond laser are confirmed by latter theoretical simulation of copper laser ablation. It is a very practical laser system for material processing and laser-induced damage.