Nowadays researchers seeking attention on plant‐based natural fibers as reinforcement with the biodegradable matrix‐like polylactic acid (PLA) to solve the environmental issues. In this research work, jute and hemp fibers are reinforced with PLA matrix with the weight fraction of 50:50 and the composites are fabricated by using compression molding technique. The properties such as hardness, tensile strength, flexural strength, impact strength and inter‐laminar shear strength (ILSS), and water absorption characteristics are evaluated. The characterization of these composites are examined by using thermo‐gravimetry analysis, differential thermal analysis, differential thermo‐gravimetric, and scanning electron microscopy analysis. Experimental results show that the jute/hemp/PLA hybrid composites exhibit better tensile strength (69 MPa), flexural strength (145.40 MPa), impact strength (6.37 J), and ILSS (2.98 MPa) than other combinations. From the thermal analysis it is found that the decomposition and weight loss occurring started around 250°C and ended by 350°C. From the experimental analysis it is concluded that the hybrid composites performed well, indicating that they have a lot of potential for use as a green substitute material for synthetic or single plant fiber reinforced composites.