In this paper, we proposed the estimation procedures to estimate the unknown parameters, reliability and hazard functions of Inverse Lomax distribution. The mathematical expressions for maximum likelihood and Bayes estimators are derived in presence of hybrid censoring scheme. In most of the cases, it has been seen that maximum likelihood and Bayes estimators of the parameters are not appear in explicit form. Hence, Newton-Raphson (N-R) method has been used to draw the maximum likelihood estimates of the parameters. The Bayes estimators are obtained under Jeffrey's non-informative prior for both shape and scale using Markov Chain Monte Carlo (MCMC) technique. Further, we have also constructed the 95% asymptotic confidence interval based on maximum likelihood estimates (MLEs) and highest posterior density (HPD) credible intervals based on MCMC samples. Finally, two data sets have been used to demonstrate the proposed methodology.