A commonly adopted dehumidification system on a suspension bridge is the desiccant wheel dehumidification system (DWDS), which demonstrates ineffectiveness and energy-intensiveness in high temperature and humidity scenarios. This paper proposes a suspension bridge hybrid dehumidification system (HDS) as a better alternative for corrosion protection. A numerical model of HDS was first established. Then, the effects of the main operating parameters on HDS were analyzed, and the dehumidification performance of HDS and DWDS was further compared to illustrate the superiority of HDS to apply on a suspension bridge. In addition, the air supply parameter was discussed, and a low-energy operation strategy of HDS in summer cases was proposed. Finally, limitations and adaptations of heat pump dehumidification system (HPDS) and DWDS on suspension bridges were discussed. The results showed that: (1) HDS realizes the utilization of waste energy from suspension bridges, enhancing the system efficiency. Its specific moisture extraction rate (SMER) reaches 3.16 kg kW−1 h−1 in a high-temperature and -humidity environment (35 °C, 30.82 g kg−1) of the suspension bridge. (2) In the same inlet air conditions, HDS has greater dehumidification capacity than DWDS, and this advantage is enlarged with the increment of inlet air temperature and moisture content. In addition, HDS can strengthen dehumidification ability by decreasing the evaporation temperature and increasing the regeneration temperature to meet peak moisture loads of the suspension bridge. (3) Considering the anti-corrosion effects, energy consumption and drying time, the authors recommend that the moisture content corresponding to the atmospheric temperature and RH of 45% be used for air supply on a suspension bridge. (4) HPDS has poor adaptability to temperatures below 20 °C, while DWDS has poor adaptability to some high temperatures of 24~40 °C and high humidities of 19~30 g kg−1. None of them can meet the air supply requirements of a suspension bridge’s main cable alone.