In this study, modified nanographene oxide (mGO) and carbon nanotubes (CNTs) reinforced phenyl silicone rubber (PSR) composites were created and studied. On the mechanical characteristics of the PSR hybrid composites, the synergistic impact of mGO and CNTs was investigated. The PSR hybrid composites were assessed for their tensile strength, elongation at break, 100% modulus, tear strength, hardness, rebound resilience, abrasion resistance, compression set, swelling resistance, and microstructure. The micro-structural, mechanical, and other properties of the nanocomposites are greatly influenced by the concentration of CNTs and mGO. According to the study, the nanocomposites with 6 phr of mGO and 3 phr of CNTs exhibit the highest mechanical property as well as properties that make them resistant to swelling and abrasion.