A terahertz modulation structure based on hybrid metamaterial and graphene is proposed and demonstrated in this work. The metamaterial with a square slit ring array excites terahertz resonance in the slits and enhances the interaction between the terahertz wave and graphene. The graphene layer acting as the active material is tuned by the applied electrical field. With the separation by a dielectric layer between the graphene and the metallic structure, the resonant frequency and transmitted energy are both modulated by the graphene. Experimental result indicates that the modulation depth of the terahertz transmitted amplitude is 65.1% when the applied modulation voltage is tuned 5 V.