The aim of this study is enhancing the ballistic performance of multi-layered fiber reinforced composite structures by hybridization approach against fragment simulating projectile (FSP). For manufacturing of homogeneous and hybrid composite structures, 170 g/m2 twill weave aramid and 280 g/m2 plain weave E-Glass fibers were used with epoxy resin systems and two different thickness values for each composite panel were fabricated and tested to obtain a relationship between areal density and V50 parameters. Tensile, 3-point bending, and short beam strength tests of composite panels were performed, and ballistic performance of composite structures were measured by V50 test method with 1.1 g FSP threat. Ballistic performance of hybrid composite structures was compared with high-performance composite ballistic panel test results reported in literature. As a result, it was found that E-Glass fabric layers together with aramid fabrics increased the energy absorbing capability of hybrid composite panels and ballistic performance was enhanced to be similar or higher than ballistic fiber reinforced composites. Hence, hybridization was found to be an effective way to enhance ballistic performance of fiber reinforced composite structures.