Mixup style data augmentation algorithms have been widely adopted in various tasks as implicit network regularization on representation learning to improve model generalization, which can be achieved by a linear interpolation of labeled samples in input or feature space as well as target space. Inspired by good robustness of alternative dropout strategies against over-fitting on limited patterns of training samples, this paper introduces a novel concept of ShuffleMix -- Shuffle of Mixed hidden features, which can be interpreted as a kind of dropout operation in feature space. Specifically, our ShuffleMix method favors a simple linear shuffle of randomly selected feature channels for feature mixup in-between training samples to leverage semantic interpolated supervision signals, which can be extended to a generalized shuffle operation via additionally combining linear interpolations of intra-channel features. Compared to its direct competitor of feature augmentation -- the Manifold Mixup, the proposed ShuffleMix can gain superior generalization, owing to imposing more flexible and smooth constraints on generating samples and achieving regularization effects of channel-wise feature dropout. Experimental results on several public benchmarking datasets of single-label and multi-label visual classification tasks can confirm the effectiveness of our method on consistently improving representations over the state-of-the-art mixup augmentation.