Chondrogenic differentiation of stem cells can be regulated by mechanical properties of biomaterials. Here, hybrid hydrogels, composed of sulfhydrylated hyaluronan (HA-SH) with different molecular weight and collagen I (Col Ⅰ), were designed to investigate chondrogenic differentiation of rabbit bone marrow mesenchymal stem cells (rBMSCs). The enhanced molecular weight of HA-SH decreased the mechanical properties of hybrid hydrogels, but improved viscosity and degradation resistance, which could modulate cell spreading and morphological changes, thereby influencing chondrogenic differentiation. Furthermore, 1 MDa HA-SH combined with Col Ⅰ (1M-HAC) with adequate viscoelasticity was beneficial to the circularity and nuclear chromatin condensation of rBMSCs, which induced significant chondrocyte aggregation, increased glycosaminoglycans and collagen Ⅱ stainings, and reduced collagen Ⅹ staining. This was conducive to preserve a hyaline cartilage's phenotype and reducing inflammation and degeneration. Subcutaneous implantation studies revealed that 1M-HAC also facilitated specific matrix secretion, chondrogenic gene expression and potentially anti-inflammatory and anti-degenerative effects.