A comprehensive benefit evaluation index system of a smart substation construction project is constructed from four dimensions of intelligent, economic, green and safety benefits. The attribute values of the evaluation indicators are the hybrid information containing linguistic variables, exact numbers and normal distribution interval numbers. A hybrid multi-criteria decision making model for hybrid information is constructed based on intuitionistic fuzzy sets and a combined weighting method. First, different transformation rules are used to uniformly convert the hybrid information into the form of intuitionistic fuzzy numbers. Then the GEM-IFE combination weighting method based on a cooperative game model is used to determine the comprehensive weight of indicators, and an improved TOPSIS evaluation model is established based on intuitionistic fuzzy sets. Finally, 10 smart substation construction projects are taken as cases for analysis, and this model is compared with the traditional TOPSIS method and single weighting method. The results show that the hybrid multi-criteria decision-making model has good robustness.