Ransomware is a special malware designed to extort money in return for unlocking the device and personal data files. Smartphone users store their personal as well as official data on these devices. Ransomware attackers found it bewitching for their financial benefits. The financial losses due to ransomware attacks are increasing rapidly. Recent studies witness that out of 87% reported cyber-attacks, 41% are due to ransomware attacks. The inability of application-signature-based solutions to detect unknown malware has inspired many researchers to build automated classification models using machine learning algorithms. Advanced malware is capable of delaying malicious actions on sensing the emulated environment and hence posing a challenge to dynamic monitoring of applications also. Existing hybrid approaches utilize a variety of features combination for detection and analysis. The rapidly changing nature and distribution strategies are possible reasons behind the deteriorated performance of primitive ransomware detection techniques. The limitations of existing studies include ambiguity in selecting the features set. Increasing the feature set may lead to freedom of adept attackers against learning algorithms. In this work, we intend to propose a hybrid approach to identify and mitigate Android ransomware. This study employs a novel dominant feature selection algorithm to extract the dominant feature set. The experimental results show that our proposed model can differentiate between clean and ransomware with improved precision. Our proposed hybrid solution confirms an accuracy of 99.85% with zero false positives while considering 60 prominent features. Further, it also justifies the feature selection algorithm used. The comparison of the proposed method with the existing frameworks indicates its better performance.