The heat transmission capabilities of hybrid nanofluids are superior to those of mono nanofluids. In addition to solar collectors and military equipment, they may be found in a number of areas including heat exchanger, automotive industry, transformer cooling and electronic cooling. The purpose of this study was to evaluate the significance of the higher order chemical reaction parameter on the radiative flow of hybrid nanofluid (polyethylene glycol (PEG)–water combination: base fluid and zirconium dioxide, magnesium oxide: nanoparticles) via a curved shrinking sheet with viscous dissipation. Flow-driven equations were transformed into nonlinear ODEs using appropriate similarity transmutations, and then solved using the bvp4c solver (MATLAB built-in function). The results of two scenarios, PEG−Water+ZrO2+MgO (hybrid nanofluid) and PEG−Water+ZrO2, (nanofluid) are reported. In order to draw important inferences about physical features, such as heat transfer rate, a correlation coefficient was used. The main findings of this study were that curvature parameter lowers fluid velocity, and Eckert number increases the temperature of fluid. It was observed that the volume fraction of nanoparticles enhances the skin friction coefficient and curvature parameter lessens the same. It was noticed that when curvature parameter (K) takes input in the range 0.5≤K≤2.5, the skin friction coefficient decreases at a rate of 1.46633 (i.e., 146.633%) (in the case of hybrid nanofluid) and 1.11236 (i.e., 111.236%) (in the case of nanofluid) per unit value of curvature parameter. Increasing rates in the skin friction parameter were 3.481179 (i.e., 348.1179%) (in the case of hybrid nanofluid) and 2.745679 (in the case of nanofluid) when the volume fraction of nanoparticle (ϕ1) takes input in the range 0≤ϕ1≤0.2. It was detected that, when Eckert number (Eck) increases, Nusselt number decreases. The decrement rates were observed as 1.41148 (i.e., 141.148%) (in the case of hybrid nanofluid) and 1.15337 (i.e., 153.337%) (in the case of nanofluid) when Eckert number takes input in the range 0≤Eck≤0.2. In case of hybrid nanofluid, it was discovered that the mass transfer rate increases at a rate of 1.497214 (i.e., 149.7214%) when chemical reaction (Kr) takes input in the range 0≤Kr≤0.2. In addition, we checked our findings against those of other researchers and discovered a respectable degree of agreement.