In emerging digital world, the high-performance arithmetic computing module with low power and reduced area are required to compute the Signal processing application operations. In that signal processing applications, the multipliers are essential component of arithmetic functional units in many applications, like digital signal processors, image/video processing, Machine Learning, Cryptography and arithmetic & logical units (ALU). In recent years, Profuse multipliers are there. In that, Vedic multiplier is one of the high-performance multiplication and it used to signal/image processing applications. In order to ameliorate the performance of this multiplier further, by proposed a novel multiplier using hybrid compressor for application of Cryptography and signal processing system. The proposed hybrid compressor-based multiplier is designed and implemented in FPGA (spartan 6). The synthesis result shows that the speed of proposed hybrid compressor-based multiplier gets improved as compared to Array multiplier (35.83%), Wallace tree multiplier (34.58%), Vedic Multiplier based on CLA (28.49%), Vedic Multiplier based on RCA (20.65%), Booth Multiplication (21.65%) and Vedic Multiplication based on HCA (20.10%) and Hybrid multiplier using CSELA (17.81%) and Hybrid Vedic Multiplier (7.15%).