The simultaneous wireless power and information transfer (SWPIT) technology has higher security and stability for the charging system of downhole intelligent valve controller. In order to realize efficient power transfer and stable communication under load variation and coaxial separation of magnetic coupler, a SWPIT system based on hybrid topology and decoupling magnetic coupler is proposed in this paper. Firstly, a system circuit design based on ISOP type hybrid topology for power transfer and S-S type topology for information transfer is proposed. Then the coaxial loop DD-solenoid coil with three groups of coils decoupled from each other is proposed to realize the decoupling of power and information transfer respectively. On this basis, the optimal load of the hybrid topology is derived, and the load matching is realized by the T-type topology. Simulation and experimental results show that the proposed magnetic coupler can realize the decoupling of the coils. The average efficiency of power transfer is 90.03%, and the power transfer has almost no effect on the performance of information transfer.