Understanding various historical entity information (e.g., persons, locations, and time) plays a very important role in reasoning about the developments of historical events. With the increasing concern about the fields of digital humanities and natural language processing, named entity recognition (NER) provides a feasible solution for automatically extracting these entities from historical texts, especially in Chinese historical research. However, previous approaches are domain-specific, ineffective with relatively low accuracy, and non-interpretable, which hinders the development of NER in Chinese history. In this paper, we propose a new hybrid deep learning model called “subword-based ensemble network” (SEN), by incorporating subword information and a novel attention fusion mechanism. The experiments on a massive self-built Chinese historical corpus CMAG show that SEN has achieved the best with 93.87% for F1-micro and 89.70% for F1-macro, compared with other advanced models. Further investigation reveals that SEN has a strong generalization ability of NER on Chinese historical texts, which is not only relatively insensitive to the categories with fewer annotation labels (e.g., OFI) but can also accurately capture diverse local and global semantic relations. Our research demonstrates the effectiveness of the integration of subword information and attention fusion, which provides an inspiring solution for the practical use of entity extraction in the Chinese historical domain.