A hybrid film of carbon nanotubes (CNTs) and silver nanowires (AgNWs) that could be regarded as a parallel circuit of CNTs and AgNWs was developed, which exhibited a low sheet resistance of 23 Ω/sq and transmittance at 550 nm of 93%. The relatively high, intertube contact resistance of CNTs was reduced by the metallic AgNWs, which acted as bridges to aid carrier transport between CNTs. A hybrid film of CNTs and AgNWs was used as a transparent conductive layer in an AlGaInP light-emitting diode (LED). Including the hybrid film in the LED increased the optical output power by about 1.6 times and decreased the red shift of emission wavelength from 13.11 to 9.7.