Hybrid vibration absorbers (HVAs) are an effective solution for vibration mitigation. They combine the passive vibration absorption mechanism of tuned mass dampers (TMDs) with feedback-controlled actuators, similar to active mass dampers. This enables them to overcome the performance of both systems in terms of vibration mitigation effectiveness and energy consumption, respectively. This study evaluates the vibration suppression capabilities of an HVA against self-excited oscillations. A single-degree-of-freedom host system encompassing a negative damping term is considered. First, the possibility of enhancing the stability properties of an optimally tuned TMD through a feedback controller is evaluated. The analysis shows that this approach cannot improve the absorber’s performance. Subsequently, simultaneous optimization of all the HVA parameters is considered. Our results reveal that this approach significantly enhances the system’s performance. All analysis is carried out analytically without resorting to approximations. Finally, the absorber is numerically applied to suppress friction-induced vibrations and galloping instabilities.