Polyvinyl alcohol (PVA) hydrogels are promising implants due to the similarity of their low-friction behavior to that of cartilage tissue, and also due to their non-cytotoxicity. However, their poor mechanical resistance and insufficient durability restricts their application in this area. With the development of biodegradable glass fibers (BGF), which show desirable mechanical performance and bioactivity for orthopedic engineering, we designed a novel PVA hydrogel composite reinforced with biodegradable glass fibers, intended for use in artificial cartilage repair with its excellent cytocompatibility and long-term mechanical stability. Using structure characterization and thermal properties analysis, we found hydrogen bonding occurred among PVA molecular networks as well as in the PVA–BGF interface, which explained the increase in crystallinity and glass transition temperature, and was the reason for the improved mechanical performance and better anti-fatigue behavior of the composites in comparison with PVA. The compressive strength and modulus for the PBGF-15 composite reached 3.05 and 3.97 MPa, respectively, equaling the mechanical properties of human articular cartilage. Moreover, the increase in BGF content was found to support the proliferation of chondrocytes in vitro, whilst the PVA hydrogel matrix was able to control the ion concentration by adjusting the ions released from the BGF. Therefore, this novel biodegradable-glass-fiber-reinforced hydrogel composite possesses excellent properties for cartilage repair with potential in medical application.