It is attractive to use multi-wall carbon nanotubes (MWNTs), which has a high modulus and strength, to enhance the properties of metal matrix composites by hybrid strategy. In this paper, novel aluminum borate whisker (ABOw) and MWNTs hybrid composites were prepared by squeeze cast technique and the properties were investigated. The results show that hybrid preforms may be made by co-deposition of ABOw and MWNTs in a solution by wet method. MWNTs separate the ABOw from whisker-to-whisker contact and decrease the compressive deformation of the hybrid preforms during squeeze cast processing. MWNTs distribute along mainly in the grains of aluminum matrix, making the mechanical properties of the hybrid composites higher than singularly reinforced composite.