A new approach using a discrete model has been developed to analyze the power transmitting mechanisms of CVT (Continuously Variable Transmissions) using a dry hybrid belt. The model consists of linear springs representing the rigidities of belt components and interface elements which identify slippage between the pulley and blocks. By using this model, pulley thrusts and forces acting on the belt can be analyzed not only in a steady state but also in a transitional state. The present model and numerical approach were well confirmed by comparing the calculated results on pulley thrusts, transmitting and normal forces acting on a block with the experimental results. Some numerical calculations were demonstrated.