The primary purpose of this paper is to explore the mechanism of combined travel mode choice in multimodal networks. To meet the objective, stated preference survey and revealed preference survey are designed under short, middle, and long travel distance scenarios. Data including travelers’ socio-economic/personal information, trip characteristics, and mode choice are collected and analyzed. To recognize the influential factors of mode choice, a nested logit model is established. A value of time estimation and sensitivity analysis are conducted to quantify the influencing degree. The results reveal that cost has a significant influence on the short-distance travel mode; waiting time is perceived as the most important factor in short-distance scenario, and transfer-walking time as the most significant in middle and long distance scenario. Moreover, the traveler is more sensitive to the decrease of the transfer walking time than increase. Regarding socio-economic/personal information, travelers aged 40–50 prefer to choose combined travel mode than other ages; female travelers have a greater acceptance of metro-based transfer travel than male; individuals with higher economic level have a positive image of metro than bus.