This paper presents a hybrid algorithm by applying a hybrid firefly and particle swarm optimization algorithm (HFPSO) to determine the optimal sizing of distributed generation (DG) and distribution static compensator (D-STATCOM) device. A multi-objective function is employed to enhance the voltage stability, voltage profile, and minimize the total power loss of the radial distribution system (RDS). Firstly, the voltage stability index (VSI) is applied to locate the optimal location of DG and D-STATCOM respectively. Secondly, to overcome the sup-optimal operation of existing algorithms, the HFPSO algorithm is utilized to determine the optimal size of both DG and D-STATCOM. Verification of the proposed algorithm has achieved on the standard IEEE 33-bus and Iraqi 65-bus radial distribution systems through simulation using MATLAB. Comprehensive simulation results of four different cases show that the proposed HFPSO demonstrates significant improvements over other existing algorithms in supporting voltage stability and loss reduction in distribution networks. Furthermore, comparisons have achieved to demonstrate the superiority of HFPSO algorithms over other techniques due to its ability to determine the global optimum solution by easy way and speed converge feature.