• A 2D transient model of a hybrid magnetic refrigeration system using Peltier modules as the heat switches was established. • The actual transient thermal response of the Peltier modules was considered in the model. • The comparison of the hybrid system with the AMR mode and the Peltier mode was done. • At 4.00 Hz and 0.20 A, the COP and cooling power density of the hybrid system exceeded that of the pure AMR mode. • The influence of operating parameters on the hybrid system performance was evaluated. To overcome the shortcoming of the low cooling power density in the ordinary magnetic refrigerator, a hybrid system using Peltier thermal switches in magnetic refrigeration has been proposed by researchers. In the system, the magnetic material is sandwiched between Peltier modules which are used as the thermal switches to transport the heat to and from the material undergoing the magnetic refrigeration cycle. To analyze the system, a two-dimensional transient model is established by considering the thermal characteristics of the Peltier module, which has not been done before. With the model, the performance of the hybrid system was firstly compared with that using the pure parallel plate active magnetic regenerator (AMR) mode and that using the pure Peltier mode. Compared with pure parallel plate AMR mode, the hybrid system using Peltier thermal switches in magnetic refrigeration can significantly increase the cooling power density at low frequencies (1.60 Hz – 4.00 Hz). In this frequency range, the coefficient of performance (COP) of pure parallel plate AMR mode decreased rapidly with the increase of frequency, while the COP of the hybrid system decreased slowly, and at 4.00 Hz and 0.20 A, the COP of the hybrid exceeded that of the pure parallel plate AMR mode. Compared with pure Peltier mode, the hybrid system can achieve the same cooling power with less power consumption and obtain a higher COP. Furthermore, the influence of operating parameters on the performance of the hybrid system, which included utilization factor, input current, the outlet temperature of the cold-end heat exchanger, frequency, and the number of refrigeration units, was investigated. The results show that, when using Peltier thermal switches, the actual transient thermal response of the Peltier module plays an important role in the hybrid system, which is ignored in previous literature. To achieve efficient operation at high frequency, when using Peltier thermal switches, the thermal response time of the Peltier modules as well as the Joule heating effect, etc, needs to be carefully evaluated.