In recent times, metal matrix composites have widely been used in manufacturing industries and are replacing metals and alloys due to their superior engineering properties. These composites are being machined as one of the testing tasks in the current research. The present work investigates the drilling performance characteristics of the developed in-situ Al-4.5%Cu-1.5%Mg-5% (AlB2 + Al2O3) composites in dry-cutting conditions. Aluminum-based composite was successfully manufactured by the use of stir casting technology. Scanning electron microscopy (SEM) micrograph of the developed hybrid composite confirms the presence of good interfacial bonding of reinforcement, i.e., in-situ formed AlB2 and Al2O3 particulates with the parent matrix. The energy dispersive spectrometry (EDS) clearly showed the composition of elements present in the hybrid composite. The determination of drilling process parameters has been fixed to achieve the desired/optimum level of output parameters like thrust force, as it is significant from both energy and cost perspectives. The orthogonal array L18 Taguchi design was chosen for optimal experimental design and analysis. ANOVA analysis was implemented to assess the importance of cutting input parameters. Regression analysis is used to generate scientific forecast models for thrust force. The machining information acquired for the developed hybrid composite will be fruitful and beneficial for the manufacturing industries.