This paper proposes a novel hybrid magnetoacoustic measurement (HMM) system aiming at breast cancer detection. HMM combines ultrasound and magnetism for the simultaneous assessment of bioelectric and acoustic profiles of breast tissue. HMM is demonstrated on breast tissue samples, which are exposed to 9.8 MHz ultrasound wave with the presence of a 0.25 Tesla static magnetic field. The interaction between the ultrasound wave and the magnetic field in the breast tissue results in Lorentz Force that produces a magnetoacoustic voltage output, proportional to breast tissue conductivity. Simultaneously, the ultrasound wave is sensed back by the ultrasound receiver for tissue acoustic evaluation. Experiments are performed on gel phantoms and real breast tissue samples harvested from laboratory mice. Ultrasound wave characterization results show that normal breast tissue experiences higher attenuation compared with cancerous tissue. The mean magnetoacoustic voltage results for normal tissue are lower than that for the cancerous tissue group. In conclusion, the combination of acoustic and bioelectric measurements is a promising approach for breast cancer diagnosis.