Manual interpretation of geophysical logging data can be a tedious and time‐consuming task in the case of the nonlinear behavior of well‐logging signals. This study aims to enhance lithology classification of reservoir formations through advanced machine learning (ML) and deep learning (DL) techniques, introducing and comparing three novel algorithms, GrowNet, Deep‐Insight, and blender, against traditional models like random forest (RF) and support vector machine (SVM). Data from the South and North Viking Graben regions, encompassing 12 lithological facies, was preprocessed through cleaning, normalization, transformation, and imputation of missing values using regression models. The data set was enhanced with physic‐based features and balanced using SMOTE and NearMiss algorithms. Deep‐Insight converted tabular data into images for a convolutional neural network (CNN), significantly improving classification accuracy compared to conventional models such as decision trees (DTs). GrowNet and blender models leveraged hybrid approaches for enhanced performance. These hybrid approaches successfully addressed data imbalance and enhanced model learning, outperforming classic methods. The GrowNet and blender models for lithology classification successfully increased the penalty score and accuracy compared to the FORCE 2020 competition. Additionally, introducing the class prediction error plot visualizes multiclass classification performance more effectively than using a confusion matrix. These novel models in multiclass classification contribute to the petroleum industry by providing more accurate and reliable lithology classification, thereby improving reservoir characterization and exploration efficiency.