In this study, we investigate a scalar field cosmological model with Lyra’s geometry to explain the present cosmic expansion in a homogeneous and isotropic flat FRW universe. In Einstein’s field equations, we presupposed a variable displacement vector as an element of Lyra’s geometry. In the context of the conventional theory of gravity, we suggest a suitable parametrization of the scalar field’s dark energy density in the hybrid function of redshift [Formula: see text], confirming the essential transition behavior of the universe from a decelerating era to the present accelerated scenario. We present constraints on model parameters using the most recent observational datasets from OHD, BAO/CMB and Pantheon, taking Markov Chain Monte Carlo (MCMC) analysis into account. For the proposed model, the best estimated values of parameters for the combined dataset (OHD, BAO/CMB and Pantheon) are [Formula: see text][Formula: see text]km/s/Mpc, [Formula: see text], [Formula: see text], [Formula: see text], [Formula: see text] and [Formula: see text]. The model exhibits a flipping nature, and the redshift transition occurs at [Formula: see text]. The current value of the decelerated parameter for the proposed model is calculated as [Formula: see text] for the combined dataset. Some dynamical properties of the model like energy density ([Formula: see text]), scalar field pressure ([Formula: see text]), EoS parameter of scalar field ([Formula: see text]), and effective EoS parameter ([Formula: see text]) are analyzed and presented. Further, we have also examined the statefinder diagnosis and jerk parameters of the derived model. The total density parameter for the derived model is found to be unity which is in nice agreement with recent standard findings.