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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001019056-11-000243.txt : 20110217
<SEC-HEADER>0001019056-11-000243.hdr.sgml : 20110217
<ACCEPTANCE-DATETIME>20110217170705
ACCESSION NUMBER:		0001019056-11-000243
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(1)
FILED AS OF DATE:		20110217
DATE AS OF CHANGE:		20110217
EFFECTIVENESS DATE:		20110217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HedgeCo Hybrid Master Fund L.P.
		CENTRAL INDEX KEY:			0001512100
		IRS NUMBER:				274084845
		STATE OF INCORPORATION:			D8

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-155567
		FILM NUMBER:		11621617

	BUSINESS ADDRESS:	
		STREET 1:		C/O HEDGECO HYBRID MASTER GP, LLC
		STREET 2:		400 CLEMATIS STREET, SUITE 205
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401
		BUSINESS PHONE:		(561) 835-8690

	MAIL ADDRESS:	
		STREET 1:		C/O HEDGECO HYBRID MASTER GP, LLC
		STREET 2:		400 CLEMATIS STREET, SUITE 205
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001512100</cik>
        <entityName>HedgeCo Hybrid Master Fund L.P.</entityName>
        <issuerAddress>
            <street1>C/O HEDGECO HYBRID MASTER GP, LLC</street1>
            <street2>400 CLEMATIS STREET, SUITE 205</street2>
            <city>WEST PALM BEACH</city>
            <stateOrCountry>FL</stateOrCountry>
            <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
            <zipCode>33401</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(561) 835-8690</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2011</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>HedgeCo Hybrid Master GP, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>400 Clematis Street</street1>
                <street2>Suite 205</street2>
                <city>West Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33401</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Entity is the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>HedgeCo Investment Management, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>400 Clematis Street</street1>
                <street2>Suite 205</street2>
                <city>West Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33401</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Entity is the Investment Manager of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>HedgeCo Networks, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>400 Clematis Street</street1>
                <street2>Suite 205</street2>
                <city>West Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33401</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Entity is the Managing Member of the General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Evan</firstName>
                <lastName>Rapoport</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o HedgeCo Hybrid Master GP, LLC</street1>
                <street2>400 Clematis Street, Suite 205</street2>
                <city>West Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <stateOrCountryDescription>FLORIDA</stateOrCountryDescription>
                <zipCode>33401</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Individual is the Manager of the Managing Member of the General Partner</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>HedgeCo Hybrid Master GP, LLC and its affiliates receive customary management fees (based on net asset value) and performance fees and / or allocations based on limited partners' investments in the Issuer.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>HedgeCo Hybrid Master Fund L.P.</issuerName>
                <signatureName>/s/ Evan Rapoport</signatureName>
                <nameOfSigner>Evan Rapoport</nameOfSigner>
                <signatureTitle>MANAGER OF THE MANAGING MEMBER OF THE GENERAL PARTNER</signatureTitle>
                <signatureDate>2011-02-17</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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