This paper proposes a hybrid searching algorithm based on parameter identification for power system load models. Hybrid searching was performed by the combination of particle swarm optimization (PSO) and a complex method, which enhances the convergence of solutions closer to minima and takes advantage of global searching with PSO. In this paper, the load model of interest is composed of a ZIP model and a third-order model for induction motors for stability analysis, and parameter sets are obtained that best-fit the output measurement data using the hybrid search. The origin of the hybrid method is to further apply the complex method as a local search for finding better solutions using the selected particles from the performed PSO procedure.