In this article, a dual polarized triple‐band dielectric resonator based hybrid multiple‐input multiple‐output (MIMO) antenna is presented. The proposed MIMO antenna is designed with the help of two cylindrical dielectric resonators along with two symmetrical modified Y‐shaped microstrip printed lines. Two metallic strips and a slot on the ground plane are used to enhance the isolation. A prototype of the proposed design is fabricated and tested to validate the simulation outcomes. The measured outcomes confirmed that the proposed antenna can be utilized in three different frequency bands such as 2.21–3.13, 3.40–3.92, and 5.30–6.10 GHz with fractional bandwidth of 34.45%, 14.2%, and 14%, respectively. The modified Y‐shaped printed line is used to obtain circular polarization in the upper frequency band with fractional axial ratio (AR) bandwidth of 4.18%. Besides, MIMO performance has also been examined in terms of diversity parameters like envelope correlation coefficient (ECC), mean effective gain (MEG), diversity gain (DG), and channel capacity loss (CCL).