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This paper is devoted to the description of a new approach for large-scale electric power systems (EPS) simulation, so-called hybrid simulation approach. The design and research of EPS require solving a large number of non-trivial tasks. Due to the well-known EPS specificity, mathematical modeling is the only way to proceed. According to the hybrid approach, several simulation techniques (analogue, digital, and physical) are used to achieve the best results. An analogue part provides the elimination of methodological integration error, which appears in a case of numerical methods usage. A digital part allows the realization of control and parameter changing algorithms on software level. In a physical part, the connection and switching of modeled elements are provided in a way as in real EPS. In addition, the paper presents hardware features of the simulator-hybrid real-time power system simulator (HRTSim), which is an alternative to the digital simulators currently used. The important part of this paper is the result of comparative analysis of transient processes oscillograms obtained by HRTSim and real disturbance recorders in Tomsk region power system, as well as HRTSim and real-time digital simulator.