Energy recovery and regeneration comprise an effective way to improve hydraulic excavator fuel economy. This paper proposes a novel electro-hydraulic energy-saving system to integrate recovery and regeneration devices. The working conditions of excavators and system configuration of the proposed system are analyzed. A parametric rule-based strategy is implemented to real-time control. A energy-saving prototype is developed for a 23 ton hydraulic excavator. Several tests are carried out to evaluate the prototype from the perspectives of energy consumption, action performance, and system comfortableness. Results show that the excavator equipped with the energy-saving system can be reduced by approximately 17.6% compared with a conventional one. The braking time of the boom-lowering process is about 1.87 times that of the conventional system. The electric motor is the main vibration source, and the impact of hydraulic system shock on comfortableness is indirect. The results are important reference for further system optimization.