This study aims to clarify the effect of oxygen in shielding gas on weldability in the plasma-GMA (Gas Metal Arc) hybrid welding process of high-tensile strength steel plates. The difference in keyhole profile and bead formation, when the GMA shielding gas was pure Ar, Ar + 2% O2, or Ar + 20% CO2, was investigated for plate thicknesses of 6 and 9 mm for the first time. It was found that the weld beads were in good condition for 6 mm thickness plates for all shielding gases, which implied that the window of welding conditions for this thickness is wide. In contrast, for 9 mm thickness plates, a fully penetrated weld bead was achieved only in Ar + 20% CO2, and weld bead penetration in Ar + 20% CO2 is higher than in pure Ar and Ar + 2% O2 in the same welding condition. Due to decreased surface tension caused by sufficiently increased oxygen absorbed into the weld pool, the keyhole diameter increased to penetrate the bottom side of the plate, and the depressing weld pool surface under GMA allowed the heat input from the GMA to be directly applied to a deeper position. Consequently, the plasma-GMA hybrid welding process with Ar + 20% CO2 achieved a complete penetration for a plate of 9 mm thickness, owing to the effects of both phenomena. It proved a potential to increase penetrability in welding thicker plates by controlling oxygen content in shielding gas of GMA adequately.