Real-time high-quality reverberation simulation plays an important role in many modern applications, such as computer games and virtual reality. Traditional physically and perceptually-based reverberation simulation techniques, however, suffer from the high computational cost and lack of the specific characteristics of the enclosure. In this paper, a hybrid reverberation simulation approach is proposed in which early reflections are reproduced by convolving with the impulse response modeled by the image-source method and late reverberation is reproduced by the feedback delay network. A parametric predictor of energy decay relief is presented for the modeled early reflections and then exploited to compute the parameters of the feedback delay network. This ensures the smooth transition in the time-frequency domain from early to late reflections. Numerical simulation and listening tests validate the effectiveness of this proposed hybrid reverberation simulation approach.