Aiming at the problems of large excitation loss and low power generation efficiency of silicon rectifier generators and the unstable output voltage of permanent magnet (PM) generators, a hybrid excitation generator (HEG) with suspended brushless claw pole electrical excitation rotor (EER) and combined magnetic pole PM rotor is proposed in the present work. With only one fractional slot winding stator, the generator adopts PM field as the main magnetic field and electrical excitation field as the auxiliary magnetic field, which not only retains the advantages of high efficiency of PM generators but also effectively reduces excitation consumption. The main structure parameters and the design method were analyzed, and a simulation analysis of no-load magnetic field distribution and flux regulation ability was carried out using finite element software to verify the rationality of the hybrid excitation parallel magnetic circuit design. Moreover, the no-load, load, regulation, and voltage regulation characteristics of the designed generator were tested, and the results show that the designed generator has a wide range of voltage regulation, which can ensure stable output voltage under variable speed and load conditions.