With the help of the current models of proton exchange membrane (PEM) fuel cells and three-heat-source heat pumps, a generic model of a PEM fuel cell/heat-driven heat pump hybrid system is established, so that the waste heat produced in the PEM fuel cell may be availably utilized. Based on the theory of electrochemistry and non-equilibrium thermodynamics, expressions for the efficiency and power output of the PEM fuel cell, the coefficient of performance and rate of pumping heat of the heat-driven heat pump, and the equivalent efficiency and power output of the hybrid system are derived. The curves of the equivalent efficiency and power output of the hybrid system varying with the electric current density and the equivalent power output versus efficiency curves are represented through numerical calculation. The general performance characteristics of the hybrid system are analyzed. The optimally operating regions of some important parameters of the hybrid system are determined. The influence of some main irreversible losses on the performance of the hybrid system is discussed in detail. The advantages of the hybrid system are revealed.National Natural Science Foundation [51076134]; Fundamental Research Fund for the Central Universities, People's Republic of China [201112G007