Magnetic Resonance Electrical Impedance Tomography (MREIT) reconstructs true conductivity images by using current density distribution and surface potential measurements. In this study, equipotential projection  and J-substitution image reconstruction  algorithms for MREIT are compared. A novel reconstruction method, J-substitution and filtered equipotential-projection based hybrid reconstruction algorithm, is proposed. In this method, the image reconstructed with equipotential projection algorithm is filtered and then assigned as the starting conductivity distribution for J-substitution algorithm. True conductivity distribution can also be reconstructed with two surface potential measurements. Methods are simulated on a thorax phantom and results show that the proposed method has an improved performance in some regions.