Accurately assessing the key factors influencing air pollution is crucial for effective air pollution control. To address this need, we propose a novel Hybrid Features Grey Incidence Model (HFGIM), which integrates geometric feature differences from both proximity and similarity perspectives. Firstly, we extract geometric feature difference vectors of proximity and similarity from time series data and measure the overall feature difference degree by calculating vector norms. Secondly, we calculate the relative feature differences and information contribution rates of proximity and similarity to derive the hybrid feature differences coefficient between sequences, thereby obtaining the hybrid features incidence degree. After detailing the model’s properties and modelling steps, we introduce the Cross-sectional Data Hybrid Features Grey Incidence Model (C-HFGIM) and the Panel Data Hybrid Features Grey Incidence Model (P-HFGIM) for handling cross-sectional and panel data, respectively. Applying HFGIM, we identified the key pollutants and primary pollution source indicators of air pollution in Jiangsu Province. We also compared HFGIM with other classical grey incidence models to verify the proposed model’s effectiveness. Based on the analysis results, we propose policy recommendations for air pollution control in Jiangsu Province.