This paper presents a performance evaluation and economic analysis of a reverse osmosis (RO) and pressure retarded osmosis (PRO) hybrid process to propose guidelines for its economic competitiveness use in the field. A model to predict the performance of a hybrid process using RO and PRO was developed based on a solution-diffusion model modified with film theory. The effects of external and internal concentration polarization (ICP) on PRO efficiency were considered in the model. Moreover, a simple cost model was applied to analyze the effects of seawater TDS and feedwater for the PRO process, water and salt permeability of PRO membrane, and membrane and energy cost on the RO-PRO hybrid process. The results show that the water transport coefficient, ICP, and seawater and feedwater TDS are important factors affecting the performance of the PRO process. On the other hand, the effect of the salt transport coefficient is not substantial. The RO-PRO hybrid process can be economically competitive with the RO process when electricity is expensive, the PRO membrane cost is cheap, and the power density and PRO recovery process are high.