A vehicle and method reduce heating of a particulate filter during a regeneration event in response to an accelerator pedal tip-out and particulate filter temperature exceeding or anticipated to exceed a threshold by fueling the engine to reduce oxygen in the exhaust flowing to the particulate filter. An electric machine may be operated as a generator charging a battery to compensate or offset torque produced by the fueling of the engine. The current or anticipated particulate filter temperature may be estimated by a soot combustion model for a current regeneration event and/or a future regeneration event based on soot loading of the particulate filter.