Hybrid metasurfaces incorporated by active materials hold great promise for state‐of‐the‐art terahertz functional devices. However, it is still a major challenge to achieve ultrafast, dynamic, and multifunctional effective control of THz waves via hybrid metasurfaces. Herein, a modulator consisting of split rings and cut‐wires is first demonstrated, with an amplitude of −35.6 dB at 0.524 THz. By embedding semiconductor silicon into specified locations to form a hybrid metasurface, the ultrastrong connectivity of the silicon bridges leads to rapid optical molecularization. Under photoexcitation, the frequency tuning range is 26.7%, the phase shifting reaches 357.5°, and the maximal modulation depth is 94.54%. Taking advantage of the rapid relaxation of photocarriers in the silicon bridges, the ultrafast frequency switching is within 1400 ps. More interestingly, by changing the positions of the silicon bridges, the frequency tuning range is further promoted to 60%, the phase shifting is 353.5°, the modulation depth of 100% is achieved, and the full recovery time is 1600 ps. Furthermore, the underlying mechanism of the ultrafast tuning process is elucidated. This work demonstrates the feasibility of all‐optical‐controlled hybrid metasurface to achieve multifunctional dynamic modulation of THz waves, which has tremendous potential for applications in optical switching, signal processing, and frequency conversion.