A hybrid fluidized-bed bioreactor for water purification was proposed and analyzed. It is a novel type of bioreactor characterized by hitherto unknown stationary and dynamic features. Steady-state characteristics of this hybrid bioreactor with external liquid circulation are presented. A quantitative analysis of steady-state properties of the bioreactor was performed with the aid of an original mathematical model developed for a double-substrate aerobic microbiological process. A steady-state analysis of aerobic processes characterized by different oxygen demand was performed. The effect of essential parameters was evaluated, including carbonaceous substrate concentration in the feed stream to the apparatus, aeration intensity, total residence time of a liquid in the bioreactor, and height of the bed of fine carrier particles.