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This research considers different storable oxidizer and fuel combinations for hybrid propulsion, looking for the most adequate candidates for mass and volume limited systems. High specific impulse Isp is the main indication for minimum mass, whereas high density specific impulse ρIsp is a good measure for smaller volume. Other aspects such as safety, handling, toxicity, burn rate, hypergolicity, and the oxidizer to fuel O/F ratio, may affect the final choice of propellant ingredient combination. For mass‐limited systems hydrogen peroxide H2O2 or nitrogen tetroxide N2O4 (the latter is toxic and hard to handle) oxidizers give the best results with most solid fuels (mainly hydroxyl‐terminated polybutadiene HTPB). For volume‐limited systems the same combinations may apply; however, in that case polyester fuel may be an adequate choice as well because of its high density. Nitrous oxide N2O is the most inadequate oxidizer for volume‐limited systems, yielding ρIsp lower by about 40 % compared to other oxidizers. Reducing the structure and insulation mass may result from decreasing the high‐pressure, high‐temperature section (the combustion chamber) and can be achieved from high O/F combinations employing N2O or H2O2 oxidizers. N2O gives relatively safe system, H2O2 enables hypergolic combinations, HNO3 is good for long‐term storage, whereas paraffin wax and expandable graphite additive yield high fuel regression rate and thrust. Overall, H2O2 oxidizer seems optimal for many operational aspects, but it should be chemically stabilized to minimize decomposition. [ABSTRACT FROM AUTHOR]