Nanocomposites based on molybdenum disulfide (MoS2), hexagonal boron nitride (h‐BN) and hybrid MoS2/h‐BN nanofillers with different wt % in elastomeric polyurethane (PU) were studied with respect to their microstructure, thermal and mechanical properties. Tensile tests showed increases up to 80% in Young`s modulus for both h‐BN and hybrid MoS2/h‐BN composites. These results agree with dynamic mechanical analysis tests, which confirm an increase of up to 106% in storage modulus for hybrid MoS2/h‐BN with 0.5 wt % content. When the hybrid MoS2/h‐BN nanofillers were incorporated into the polymeric matrix, increases up to 102% in crosslink density were observed, indicating that strong interactions between the hybrid nanofillers and PU were established. However, the most important synergistic effect between the mixture of MoS2 and h‐BN nanoadditives was the increase of up to 752% in thermal conductivity with respect to neat polymer. Therefore, hybrid composites based in two‐dimensional MoS2/h‐BN nanofillers with multifunctional attributes can be applied in advanced polymeric materials that require high mechanical and thermal performance. © 2018 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2018, 135, 46560.