The microstructural features and high-temperature oxidation resistance of hybrid (TiC+TiB) networks reinforced Ti-6Al-4V composites were investigated after fabricated with reaction hot pressing technique. The inhomogeneous distribution of hybrid reinforcers resulted in a sort of stress-induced grain refinement for {alpha}-Ti matrix phase, which was further facilitated by heterogeneous nucleation upon additive interfaces. HRTEM analyses revealed the crystallographic orientation relation between TiB and alpha-Ti phases as (201)TiB//(-1100)alpha-Ti plus [11-2]//[0001] alpha-Ti, while TiC and {alpha}-Ti phases maintained the interrelation of (-200)TiC//(-2110) {alpha}-Ti and [001]TiC//[01-10] alpha-Ti. The hybridly reinforced Ti-6Al-4V/(TiC+TiB) composites displayed superior oxidation resistance to both the sintered matrix alloy and the two composites reinforced solely with TiC or TiB addition during the cyclic oxidation at 873, 973 and 1073 K respectively for 100 h. The hybrid reinforcers volume fraction was a more influential factor to improve oxidation resistance than the matrix alloy powder size. As temperature rose from 873 to 1073 K, the oxidation kinetics transferred from the nearly parabolic type through qusilinear tendency into the finally linear mode. This corresponded to the morphological transition of oxide scales from a continuous protective film to a partially damaged layer and ended up with the complete spallation of alternating alumina and rutile multilayers. A phenomenological model was proposed to elucidate the growth process of oxides scales. The release of thermal stress, the suppression of oxygen diffusion and the fastening of oxide adherence were found as the three major mechanisms to enhance the oxidation resistance of hybrid reinforced composites.