Torque density is one of the major limiting factors in machine design. In this paper, we propose the hybrid excited partitioned stator switched flux machine3 (HE-PSSFM3). In HE-PSSFM3, armature winding is positioned on the outer stator whereas the permanent magnet (PM) and field winding are placed at the inner stator, while the rotor is free from excitation sources and armature winding. Moreover, concentrated field winding is replaced by toroidal winding. The power splitting ratio between two stators/rotor pole combinations is analytically optimized and are validated through genetic algorithm (GA) in order to enhance average torque and flux regulation capability. The electromagnetic characteristics of the improved and initial design are evaluated and compared with existing designs, i.e., HE-PSSFM1 and HE-PSSFM2. The proposed HE-PSSFM3 has achieved high average torque, i.e., 2.0015 Nm, at same armature and field current densities of 5 A/mm2. The results show that the average torques of the proposed design are 35% and 15% greater than HE-PSSFM1 and HE-PSSFM2, respectively. Furthermore, the analysis of various parameters such as flux linkage, flux regulation, electromagnetic performances, cogging torque, back EMF, electromagnetic torque, and torque ripples are investigated using two dimensional (2D) finite element analysis (FEA). Moreover, the simulation results of the proposed design are validated through GA and analytical modeling.