Thermal conductivity (TC) is one of the important thermal property evaluation parameters for high‐temperature‐resistant fiber‐reinforced composites. Herein, based on the flexible‐oriented three‐dimensional (3D) woven technology, fiber hybrid ceramic matrix composites (FH‐CMCs) with different hybrid modes are designed and fabricated by using carbon fiber and silicon carbide fiber. The representative volume element (RVE) models of fiber bundle and matrix with mesoscopic characteristics and the macroscopic RVE models with hybrid structure characteristics are established. The heat flux distribution and effective TCs of FH‐CMCs in the thickness and in‐plane directions at different temperatures are obtained by finite element analysis (FEA) and experimental tests. The results show that the FEA and experimental results of the TCs of different FH‐CMCs are in good agreement. In the range of 25–1000 °C, the effective TCs of FH‐CMC gradually decrease with the increase in temperature. The TCs in the thickness direction of different FH‐CMCs are directly proportional to the hybrid ratio, and the TCs in the in‐plane direction are inversely proportional to the hybrid ratio. The heat flux and temperature field distributions of the FH‐CMCs are mainly affected by the TCs of the components, fiber hybrid ratio, and orientation, and the distribution along different directions are obviously different. The research results are helpful to provide theoretical and experimental reference for the structural design and performance improvement of hybrid composites.