Hybrid bearings gets worn gradually during the start and stop operation. This wearing leads to change in the geometry of bearing and affects the radical clearance as well as fluid film thickness. Therefore, these discontinuities in the radial clearance can influence the performance characteristics. With the purpose of preventing irreparable failure state of bearing assembly, it is essential to concentrate on the actual changes in the performance parameters of hole entry hybrid conical journal bearing due to wear. In this context, the main aim of this analysis is to predict the performance of hole entry hybrid conical journal bearing employing constant flow valve compensation. Modified Reynolds equation in spherical coordinate form is used to govern the flow of lubricant in the narrow region between journal and conical bearing. The solution to this Reynolds equation is obtained by finite element analysis with appropriate boundary conditions. This paper summarizes that for a given bearing with constant flow valve as compensating element, the wear causes variation in lubricant film thickness, which strongly affects load capacity, pressure generated, and dynamic performance parameters.