Plant-derived fibres, called lignocellulosic fibres, are a natural alternative to synthetic fibres in polymer composite reinforcement. Utilizing renewable resources, such as fibre-reinforced polymeric composites made from plant and animal sources, has become a crucial design requirement for developing and producing parts for all industrial goods. Natural-fibre-based composites are used for door panels, trays, glove boxes, etc. This study involves developing and thermal analysing a flax fibre reinforced with phenol–formaldehyde resin hybridization with ramie fibre by way of a vacuum infusion process. As per ASTM Standard, eight different sequences were fabricated and thermally characterized. In the present study, three stages of weight loss (%) are shown by the thermogravimetric analysis (TGA). The sample loses less weight during the first stage, more during the second, and more during the third. The sample’s overall maximum temperature was recorded at 630 °C. It was discovered that sample D (80.1 °C) had the highest heat deflection temperature, and sample B had the lowest (86.0 °C). Sample C had a low thermal expansion coefficient, while sample G had a high thermal expansion coefficient. Sample E had the highest thermal conductivity, measured at 0.213 W/mK, whereas sample A had the lowest conductivity, at 0.182 W/mK. From the present study, it was found that sample H had better thermal characteristics. The result of the present investigation would generate thermal data regarding hybrid ramie and flax composites, which would be helpful for researchers and practitioners involved in the field of biocomposites.