This paper proposes a modular hybrid-excited axial transverse flux permanent magnet machine. The operational principles and performance characterization are presented. The toroidal excitation windings are placed on both teeth of the U-type core and are excited by a field current. The field current can either buck or boost the magnetic flux produced by the circular permanent magnets on the rotor disk. The finite element analysis is performed to quantify the change in flux linkage, back-EMF, and output power as a function of field current. This research contributes to the field weakening or intensifying feature of the axial transverse flux PM machine.