Piezoelectric actuators are widely used in high-precision positioning systems. The nonlinear characteristics of piezoelectric actuators, such as multi-valued mapping and frequency-dependent hysteresis, severely limit the advancement of the positioning system’s accuracy. Therefore, a particle swarm genetic hybrid parameter identification method is proposed by combining the directivity of the particle swarm optimization algorithm and the genetic random characteristics of the genetic algorithm. Thus, the global search and optimization abilities of the parameter identification approach are improved, and the problems, including the genetic algorithm’s poor local search capability and the particle swarm optimization algorithm’s ease of falling into local optimal solutions, are resolved. The nonlinear hysteretic model of piezoelectric actuators is established based on the hybrid parameter identification algorithm proposed in this paper. The output of the model of the piezoelectric actuator is in accordance with the real output obtained from the experiments, and the root mean square error is only 0.029423μm. The experimental and simulation results show that the model of piezoelectric actuators established by the proposed identification method can describe the multi-valued mapping and frequency-dependent nonlinear hysteresis characteristics of piezoelectric actuators.