A channel content playback method based on a hybrid network system which may avoid idleness of a digital video broadcasting (DVB) network and a hybrid set top box that may implement the method. The method includes accessing, by the hybrid set top box, an electronic program guide (EPG) system, acquiring, from the EPG system, a channel list of channel content, receiving, based on channel selection performed by a user according to the channel list, target channel content through a DVB network channel, acquiring a first uniform resource locator (URL) from the EPG system according to a rewind operation of the user, and acquiring, according to the first URL, the rewound target channel content from a content delivery network (CDN) system located in an Internet Protocol (IP) network.