The invention discloses a hybrid magnetic bearing switched reluctance motor and a control method thereof, and belongs to the field of a magnetic suspension motor and control thereof. The motor is formed by connecting and integrating a 12-8-pole switched reluctance motor and a 4-pole magnetic bearing in series, wherein four suspension windings are wound around magnetic bearing stators and four reluctance motor stators which are aligned to the magnetic bearing stators, and are used for generating suspension forces, eight armature windings are wound around the other eight reluctance motor stators and are used for generating torques, during control, the suspension windings employ constant conduction excitation, suspension forces are simultaneously generated in the magnetic bearing and the reluctance motor, eight torque windings are connected to form two phases, excitation conduction is performed in turns, and torques are generated in the reluctance motor. According to the control method of the motor, the currents of the suspension windings are symmetric in each positive and negative half period, a positive torque and a negative torque which are generated are equal, the average torque is zero, and thus, the suspension forces and the average torque are decoupled; moreover, the starting performance of the motor is also improved by the positive torque, and the defect of difficulty in starting of a traditional two-phase motor can be overcome; and the hybrid magnetic bearing switched reluctance motor is simple in structure, and a power system is low in cost and is simple to control.