A novel air-hole assisted metaldielectricmetal (MDM) waveguide has been proposed and numerically demonstrated. It has excellent characters including subwavelength mode confinement, chip-scale long propagation length, highly efficient direct bends with compact footprints, and high waveguide isolation with tiny center-to-center separation at the wavelength of 1.55 μm. To prove that the hybrid waveguide could be an ideal candidate for large-scale photonic integration, its characters are all compared with the silicon, photonic crystal, surface plasmon polariton based waveguides.