Hybrid composite stack, especially FRP/Ti assembly, is considered as an innovative structural configuration for manufacturing the key load-bearing components favoring energy saving in the aerospace industry. Several applications require mechanical drilling for finishing hybrid composite structures. The drilling operation of hybrid FRP/Ti composite, however, represents the most challenging task in modern manufacturing sectors due to the disparate natures of each constituent involved and the complexity to control tool-material interfaces during one single cutting shot. Special issues may arise from the severe subsurface damage, excessive interface consumption, rapid tool wear, etc. In this paper, a rigorous review concerning the state-of-the-art results and advances on drilling solutions of hybrid FRP/Ti composite was presented by referring to the wide comparisons among literature analyzes. The multiple aspects of cutting responses and physical phenomena generated when drilling these materials were precisely addressed. A special focus was made on the material removal modes and tool wear mechanisms dominating the bi-material interface consumption (BIC) with respect of investigating strategies used. The key conclusions from the literature review were drawn to point out the potential solutions and limitations to be necessarily overcome for reaching both (i) enhanced control of drilling operation, and (ii) better finish quality of FRP/Ti parts.