This paper proposes a hybrid teaching learning-based optimization- particle swarm optimization (TLBO-PSO) Algorithm for optimal distributed generation (DG) and STATCOM placement. A multi-objective formulation is developed that optimizes the DG and STATCOM placement in IEEE 33 and real-time 52 bus distribution system. The objective function formulated involves maximizing cost-benefit and voltage stability factors while minimizing network security index and power losses. Simulation is carried out in MATLAB/Simulink for different systems and different cases. The results for single and multiple STATCOM and DG are compared with TLBO and PSO algorithm and the results exhibit better convergence performance with the hybrid optimization algorithm.