The escalating global trend of traffic accidents with subsequent loss of lives is a matter of grave concern that requires immediate attention. Extensive efforts have been made to mitigate accidents and develop effective prevention strategies. This research paper focuses on a comprehensive analysis of traffic accidents in Seoul, aiming to identify factors and accident types that contribute to increased severity. To achieve this, we introduced a new approach called “TrafficNet: A Hybrid CNN-FNN Model” to evaluate effects of various parameters on the severity of traffic accidents in Seoul. Our main objective was to classify accidents into four distinct levels of severity: minor injuries, slander, fatalities, and injury reports. To assess the effectiveness of our proposed model, we conducted comprehensive experiments using publicly available traffic accident data provided by Seoul Metropolitan Government. These experiments involved six different models, including five machine learning models (decision tree, random forest, k-nearest neighbor, gradient boosting, and support vector machine) and one deep learning model (multilayer perceptron). The proposed model demonstrated exceptional performance, surpassing all other models and previous research findings using the same dataset. On the test dataset, TrafficNet achieved an impressive accuracy of 93.98% with a precision of 94.31%, a recall of 93.98%, and an F1-score of 93.89%.