This study aims to reduce the production cost of composite materials, obtain composite materials with improved properties, and expand the applications of waste rubber composites using two different industrial wastes, ethylene-propylene-diene monomer rubber (EPDM) and tire waste pyrolysis solid product carbon black (CB). Composites were formed by adding EPDM waste or EPDM-CB mixture at 1:1, 1:3, and 3:1 ratios to bisphenol-A type epoxy resin in different weight ratios. Mechanical, water sorption, electrical conductivity, and flammability tests were applied to the composites. The effect of the EPDM:CB ratio and some environmental conditions on the mechanical properties of the hybrid composites were investigated. Composites with 3:1 weight ratio of EPDM:CB had the highest tensile strength, which varied between 115.5–158.6 MPa. Increasing the EPDM ratio in an epoxy matrix and hybrid filler decreased the composites’ density and tensile strength. EPDM-CB hybrid filler increased the thermal strength of epoxy. Mechanical properties are affected by water sorption, low temperature, and UV irradiation. Increasing the CB ratio in the hybrid filler decreased the flammability of the hybrid composites. ANOVA is applied to find the significant effect of different weight percentages of hybrid fillers and different varieties of fillers on the mechanical properties of composites.