The rotary motion field of heavy equipment is a large energy-consuming field, characterized by frequent cyclical start-stop, significant load inertia, and braking energy is usually dissipated as thermal energy, for energy regeneration, no good solution has been found. This paper proposes a new energyregenerative hybrid drive (ERHD) system and defines three operating modes. Taking the reversible rolling mill's roll as load, and taking the energy consumption of electric motor (EM) and peak power as evaluation indexes, the influence law of key component parameters on the driving characteristics of the system is studied. Simulation models for the pure electric motor drive (PEMD) system and ERHD system were established by AMESim, along with a rule-based energy management strategy (EMS). The results show that the hydraulic pump/motor displacement has the greatest influence on braking time, peak power, and energy consumption. Under the optimal parameters, the proposed ERHD system can reduce the peak power of EM by 45.75% and energy consumption by 48.33% compared with the PEMD system. Starting and braking times were reduced by 44.54% and 1.21%, respectively. Based on the test results, the ERHD system reduces start-up time by 22.70% and peak power by 23.72%. The proposed system will significantly contribute to developing the rotary motion field of heavy equipment in terms of energy efficiency, low carbon and green.