In this paper, the impact energy potential of hybrid fiber reinforced concrete (HFRC) was explored with different fiber mixes manufactured for comparative analyses of hybridization. The uniaxial compression and 3-point bending tests were conducted to determine the compressive strength and flexural strength. The experimental results imply that the steel fiber outperforms the polypropylene fiber and polyvinyl alcohol fiber in improving compressive and flexural strength. The sequent repeated drop weight impact tests for each mixture concrete specimens were performed to study the effect of hybrid fiber reinforcement on the impact energy. It is suggested that the steel fiber incorporation goes moderately ahead of the polypropylene or polyvinyl alcohol fiber reinforcement in terms of the impact energy improvement. Moreover, the impact toughness of steel-polypropylene hybrid fiber reinforced concrete as well as steel-polyvinyl alcohol hybrid fiber reinforced concrete was studied to relate failure and first crack strength by best fitting. The impact toughness is significantly improved due to the positive hybrid effect of steel fiber and polymer fiber incorporated in concrete. Finally, the hybrid effect index is introduced to quantitatively evaluate the hybrid fiber reinforcement effect on the impact energy improvement. When steel fiber content exceeds polyvinyl alcohol fiber content, the corresponding impact energy is found to be simply sum of steel fiber reinforced concrete and polyvinyl alcohol fiber reinforced concrete.