This paper presents an analysis of a new high voltage DC (HVDC) transmission system, which is based on current and voltage source converters (CSC and VSC) in the same circuit. This proposed topology is composed of one CSC (rectifier) and one or more VSCs (inverters) connected through an overhead transmission line in a multiterminal configuration. The main purpose of this Hybrid HVDC (H2VDC), as it was designed, is putting together the best benefits of both types of converters in the same circuit: no commutation failure and system’s black start capability in the VSC side, high power converter capability and low cost at the rectifier side, etc. A monopole of the H2VDC system with one CSC and two VSCs—here, the VSC is the Modular Multilevel Converter (MMC) considered with full-bridge submodules—in multiterminal configuration is studied. The study includes theoretical analyses, development of the CSC and VSCs control philosophies and simulations. The H2VDC system’s behavior is analyzed by computational simulations considering steady-state operation and short-circuit conditions at the AC and DC side. The obtained results and conclusions show a promising system for very high-power multiterminal HVDC transmission.