The synergistic supremacy of a hybrid nanocomposite made of reduced graphene oxide (rGO), molybdenum disulfide (MoS2) and gold nanoparticles (Au) for Q-switching and optical limiting applications is investigated. Hydrothermally synthesized Au-rGO-MoS2 hybrid with varying concentrations of Au (2.5, 5, 7.5 and 10 wt%) was subjected to interact with Q-switched Nd:YAG nanosecond green laser pulses. The intensity dependent nonlinear absorption studies revealed a switch over in the nonlinear behaviour from saturable absorption (SA) to reverse saturable absorption (RSA) behaviour. SA occurs due to ground state bleaching at comparatively lower laser irradiances serving the need for Q-switching and optical communications. The RSA trait at higher laser irradiance is attributed to sequential two-photon absorption which serves as the platform for optical limiting behaviour prompting laser safety and effective photothermal therapy applications. The strong mid-visible and UV absorption promotes the availability of multiple energy bands for energy transitions of excited state absorption (ESA). Enhanced local fields due to localized surface plasmon resonance effect, structural defects, hierarchical morphology, increased absorption cross-section and plasmon induced energy transfer promotes robust ESA process. These tunable nonlinear optical properties make Au-rGO-MoS2 hybrid promising futuristic candidates for applications in nonlinear photonic devices, ultrafast optical switches and all-optical signal processing systems.