The recent studies on nanotechnology have reported rapid development of nanofluids in various aspects due to the enhanced thermophysical and heat transfer properties of nanofluids. This paper reviews the preparation methods and some challenging issues of hybrid nanofluids during the Preparation of hybrid nanofluids. One-step and two-step are mainly the preparation methods of hybrid nanofluids. Compared to the one-step method, the two-step method is a widely used technique for preparing nanofluids due to its simplicity, whereas this technique has a complexity of achieving stability of hybrid nanofluids. On the contrary, the one-step is very flexible for achieving uniformity of nanofluids with comparatively high production cost. Some researchers followed various techniques such as surfactant addition, surface treatment, and pH modification for preparing a durable nanofluid. However, these methods also have their limitation, such as degrading the thermal attributes of hybrid nanofluids. So, future studies need to address these challenges along with the cost analysis during preparing the hybrid nanofluids.