The static and dynamic characteristics of a hybrid gas-lubricated journal bearing with surface-restriction compensation through multiple sawtooth grooves are analyzed by applying FEM. The design criteria of this bearing are discussed using the theoretical results of the fundamental bearing characteristics calculated under the variations of several bearing parameters. In particular, the optimum groove depths for the maximum static stiffness and for the maximum dynamic stiffness are clarified. The experimental research on this bearing is also presented in this paper. The theoretical and experimental results show that this bearing has a higher bearing performance and more applications in engineering compared with the traditional gas-lubricated bearing.