Novel nanocomposites based on poly(styrene-b-(ethylene-co-butylene)-b-styrene) triblock copolymer with hexagonally packed cylindrical (HEX) microdomains, and CNT-GNP hybrids has made it possible to achieve stretchable electrically conductive materials at very low loadings of nanoadditives. nanocomposites were prepared by solution mixing. Appropriate surface modification of hybrid components and sequence of mixing results in well dispersion of nanoadditives in SEBS. XRD results showed a better dispersion of GNPs in presence of CNTs. Rheological data indicated that the storage modulus increased considerably with addition of hybrids of nanoparticles, due to formation of 3-Dimensional network of nanoadditives. Rheological measurements were also used to determine the effect of hybrid nanoparticles on micro phase separated structures, orientation and recovery of cylindrical PS domains. nanoparticles exhibit two distinct effects on phase separation: modified GNPs boost phase separation acting as bases for formation of PS domains while aggregations and randomly oriented nanoparticles lead in confinements and disorderliness which decreases phase separation. Electrical conductivity measurements using CNT and GNP simultaneously, demonstrates synergistic transport effect due to GNP−CNT−GNP physically interconnected conductive network structure formed throughout the rubbery phase of the matrix.