A design of two-dimensional hybrid photonic crystal fiber (PCF) with elliptical and circular air holes and its analyses for large flattened dispersion and high birefringence is presented. The PCF has hexagonal layout with triangular lattice. There are five rings around the solid core. The inner three rings around the core have elliptical air holes while the outer two rings have circular air holes. Three such layouts are designed, analyzed, and compared with the layout having only circular air hole using full-vector finite difference time domain method. The layout with hybrid structure having combined elliptical and circular air hole gives a large flattened dispersion of the order of for the wavelength range of 1.2 to and magnitude of modal birefringence is at wavelength.