Energy recovery, evaporative cooling and multiple evaporator are regarded as the effective and energy-efficient techniques to improve the energy efficiency of air conditioning system and reduce building energy consumption. In this paper, a parametric analysis and energy-saving potential evaluation for a new hybrid air conditioning system (HAC) under hot-humid climates are carried out theoretically based on detailed models. The proposed HAC incorporates into a dual-evaporator air conditioning system with an independent fresh air conditioner for both total and sensible energy recovery. One evaporator is installed between the total and sensible energy recovery loop of the fresh air conditioner to deeply dehumidify the fresh air for indoor humidity control. The other evaporator is installed inside the conditioned room to handle the indoor return air for temperature and humidity independent control. The parametric analysis mainly for the effect of air-to-water heat capacity ratio, ambient temperature, enthalpy-humidity ratio of the air-conditioned room and the number of heat/mass transfer units of the internal heat exchangers. The energy-saving potential of the HAC is also evaluated for applications in four typical cities (Changsha, Guangzhou, Fuzhou and Hangzhou) located in southern China over the summer period (June–August). The results show that, for the same air supply requirement, the HAC has an average energy-saving rate of 48.87% compared to conventional system with electric heater, and its power saving per hour is 24.85 W m⁻².