In this paper, we investigate a simultaneous wireless information and power transfer (SWIPT) based two-way decode-and-forward (DF) relay network, where time switching (TS) is employed for SWIPT and time division broadcast (TDBC) is employed for two-way relaying. We focus on the design of a combining scheme that decides how the relay combines the signals received from two terminals through a power allocation ratio at the relay. We formulate an optimization problem to minimize the system outage probability and obtain the optimal power allocation ratio in closed form. For the proposed optimal combining scheme, we derive the expressions for the system outage probability and capacity. Simulation results verify our derived expressions and show that the proposed scheme achieves a higher system outage capacity than the existing schemes.