Based on the models of a proton exchange membrane (PEM) fuel cell working at steady state and a semiconductor thermoelectric generator, a hybrid system consisting of a PEM fuel cell, a semiconductor thermoelectric generator, and a regenerator is originally put forward. Expressions for the efficiencies and power outputs of the fuel cell, thermoelectric generator, and hybrid system are derived. The relation between the operating electric currents in the fuel cell and thermoelectric generator is obtained. The maximum power output of the hybrid system is numerically given. The optimally operating electric currents in the fuel cell and thermoelectric generator are calculated, and consequently, the optimal region of the hybrid system is determined. The results obtained here will provide some guidance for further understanding the performance and operation of practical PEM fuel cell thermoelectric generator hybrid systems. Copyright (C) 2011, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.