The advanced hybrid nanofluids are the important outcome of the nanotechnology advancement where dissimilar nanosized particles were added together either using one step or two step method. CuO-ZnO hybrid nanoparticle/water based nanofluid of 0.01 vol% solid volume fraction at various mixed ratios was prepared using two step method. Ultra-sonication assured stability of nanofluid. Hybrid nanoparticles were characterized using FESEM-EDS, DLS and Zeta analysis for understating of morphology, shape and size of nanoparticle. Effect of pH and mixed ratio of nanoparticle on stability of hybrid nanofluid was analysed. With highest surface to volume ratio nanoparticles efficiently impacted on enhancement in thermal conductivity and density of base fluid by creating a nanolayer/film on the surface of nanoparticle. Based on the results empirical equation was generated and margin of deviation was measured for the validation.