Hybrid regenerative braking energy utilization device for urban rail transit applications. The device combines the advantages of resistive energy consumption type and inverter feed-back type products, and feeds back the energy generated during regenerative braking of the train to the AC grid partly through inverter and partly through resistive heat absorption, which ensures the electric braking function of the train, realizes the partial reuse of braking energy, reduces the wear of the brake tile and improves the tunnel environment. The device has a networked multi-device intelligent coordination control function to ensure that the braking energy is utilized by adjacent vehicles in priority, and the braking energy can be fed back to the AC grid in priority, and the excess is consumed through resistors. The high peak power of the device can fully match the peak power requirements of train braking.