Textile materials for protection against electromagnetic radiation are used now not only for special purposes but in everyday clothing too. In this regard, the thermo-physical properties of such materials are very important. In this study, the hybrid knitted fabrics with electromagnetic shielding properties manufactured on 8E flat-bed machine from 0.12 mm stainless steel wire and 30 × 2 tex cotton yarn have been tested. Fabric samples differ by variant of stainless steel wire incorporation (separately or along with cotton yarn) and their positioning in the structures (loop and/or tuck). Hybrid fabric formed by the alternation of two courses of rib 1 × 1 from cotton yarn and two courses from steel wire has higher porosity and therefore higher relative water vapor permeability and lower thermal conductivity compared with fabric formed from cotton yarn and a steel wire simultaneously. The research results showed that the introduction of stainless steel wire along with cotton yarn into the knitted structure leads to changes in stitch density and therefore in the area of porosity compared with cotton fabric. The thermal conductivity coefficient and evaporative resistance of these fabrics are similar to cotton 1 + 1 rib fabric. Thus, the studied hybrid knitted fabrics with shielding properties against electromagnetic radiation can be recommended for clothing manufacturing. The half-Milano rib fabric knitted from cotton yarn and a steel wire with the greatest electromagnetic interference shielding effectiveness has a good level of comfort similar to cotton fabric.