The paper describes the recent developments of Hybrid Fibre-Reinforced Polymer (HFRP) and nano-Hybrid Fibre-Reinforced Polymer (nHFRP) bars. Hybridization of less expensive basalt fibres with carbon fibres leads to more sustainable alternative to Basalt-FRP (BFRP) bars and more economically-efficient alternative to Carbon-FRP (CFRP) bars. The New-Developed HFRP bars were subjected to tensile axial loading to investigate its structural behaviour. The effect of hybridization on tensile properties of HFRP bars was verified experimentally by comparing the results of tensile test of HFRP bars with non-hybrid BFRP bars. It is worth to mention that the difference in obtained strength characteristics between analytical and numerical considerations was very small, however the obtained results were much higher than results obtained experimentally. Authors suggested that lower results obtained experimentally can be explained by imperfect interphase development and therefore attempted to improve the chemical cohesion between constituents by adding nanosilica particles to matrix consistency.