Over many years, great efforts have been made to develop new fluids for heat transfer applications. In this paper, the thermal conductivity (TC) and viscosity of SiO2–P25 TiO2 (SiO2–P25) hybrid nanofluids were investigated for different nanoparticle volume concentrations (0.5, 1.0 and 1.5 vol%) at five various temperatures (20, 30, 40, 50 and 60 °C). The mixture ratio (SiO2:P25) in all prepared hybrid nanofluids was 1:1. Besides, pure SiO2, P25 nanofluids were prepared with the same concentrations for comparison with the hybrid nanofluids. The base fluid used for the preparation of nanofluids was a mixture of deionized water and ethylene glycol at a ratio of 5:1. Before preparing the nanofluids, the nanoparticles were analyzed with energy-dispersive X-ray analysis, scanning electron microscope, X-ray powder diffraction, and Fourier transform infrared spectroscopy. The zeta potentials of the prepared nanofluids except SiO2 nanofluids were above 30 mV. These nanofluids were visually observed for stability in many days. The TC enhancement of the hybrid nanofluid was higher than the pure nanofluid. In particular, with 1.0 vol% concentration, the maximum enhancement of SiO2, P25 and SiO2–P25 nanofluids were 7.5%, 9.9% and 10.5%, respectively. The rheology of the nanofluids was Newtonian. The viscosity increment of SiO2, P25 and hybrid nanofluids were 19%, 32% and 24% with 0.5 vol% concentration. A new correlation was developed for the TC and dynamic viscosity of SiO2–P25 hybrid nanofluid.