Heat exchangers play a vital role in numerous sectors like power generation and automotive manufacturing. Enhancing the energy efficiency of these exchangers stands as a significant hurdle. Utilizing nanofluids emerges as an optimal solution to augment heat transfer rates, leveraging their superior thermal conductivity while addressing economic constraints linked with traditional heat exchanger technologies. The motivation for this study is to consider the comprehensive synergistic features of MWCNTs, SiO2, and hybrid MWCNTs–SiO2 EG-based nanofluids in plate heat exchangers. This was achieved by simulating a plate heat exchanger using CFD (Fluent and Gambit softwares) considering the comparison of two SiO2, MWCNTs, and their hybrid forms at different mass concentrations. The Reynolds-Averaged Navier-Stokes (RANS) method was employed to model turbulent flows, and the nanoparticles were compared in both single-phase and two-phase states, with their properties derived from experimental studies. Moreover, Nusselt number, convective heat transfer coefficient, and pressure drop variations were computed at different Reynolds numbers. The findings indicated an increase in the Nusselt number with the incorporation of the hybrid nanofluid, achieving a maximum enhancement of 11.19% in comparison to EG at a Reynolds number of 240 and a concentration of 0.86 wt.%. Noticeably, the pressure drop remained negligible at lower Reynolds numbers, exhibiting marginal variations up to 0.3% at higher Reynolds numbers. At a concentration of 0.86 wt.% and a Reynolds number of 480, the introduction of MWCNTs, hybrid, and SiO2 nano-additives resulted in respective increases in the heat transfer coefficient by 21.02%, 10.76%, and 2.16% and corresponding alterations in pressure drop of 0.11%, 0.04%, and 0.02%.