This paper highlights an investigation on the comparative analyses of exergetic performance with optimum volume concentration of hybrid nanofluids in a plate heat exchanger (PHE). Different types of hybrid nanofluids (Al2O3 + MWCNT/water, TiO2 + MWCNT/water, ZnO + MWCNT/water, and CeO2 + MWCNT/water) as coolant have been tested. Proportion of 0.75% of nanofluid has been found to be the optimum volume concentration. The requisite thermal and physical properties of the hybrid nanofluids were measured at 35 °C. Various exergetic performance parameters have been examined for comparing different hybrid nanofluids. The highest reduction in exergy loss of CeO2 + MWCNT/water hybrid nanofluid has been obtained at a concentration of about 24.75%. Entropy generation decreased with the increase in volume concentration. The results established that CeO2 + MWCNT/water hybrid nanofluid can be a promising coolant for exergetic performances in a PHE.