We discuss vacuum static, spherically symmetric asymptotically flat solutions of the generalized hybrid metric-Palatini theory of gravity (generalized HMPG) suggested by B ¨ohmer and Tamanini, involving both a metric g μν and an independent connection Γα μν ; the gravitational field Lagrangian is an arbitrary function f (R, P ) of two Ricci scalars, R obtained from g μν and P obtained from Γα μν . The theory admits a scalar-tensor representation with two scalars φ and ξ and a potential V (φ, ξ) whose form depends on f (R, P ). Solutions are obtained in the Einstein frame and transferred back to the original Jordan frame for a proper interpretation. In the completely studied case V ≡ 0, generic solutions contain naked singularities or describe traversable wormholes, and only some special cases represent black holes with extremal horizons. For V (φ, ξ) = 0, some examples of analytical solutions are obtained and shown to possess naked singularities. Even in the cases where the Einstein-frame metric g E μν is found analytically, the scalar field equations need a numerical study, and if g E μν contains a horizon, in the Jordan frame it turns to a singularity due to the corresponding conformal factor.