Hybrid square tubes wrapping fiber reinforced polymer (FRP) around metallic tubes are excellent structures for both collision energy absorption and lightweight. This paper deals with axial crushing theory of hybrid square tubes wrapped with antisymmetric angle-ply. The energy dissipation mechanism of hybrid square tubes is analyzed based on deformation of metallic square tubes. Considering the effects of stacking sequences of FRP on the crashworthiness and energy absorption, theoretical expressions of the membrane force and fully plastic bending moments per unit length of hybrid squares tube are derived. Then, the expression of mean crushing force of hybrid square tubes wrapped with antisymmetric angle-ply is established. Theoretical predictions compare well with the results of three groups of experiments and forty simulation models. The theoretical calculation presented in this paper can predict the behavior of hybrid square tubes during the conceptual design.