The state of health (SOH) estimation is very critical to battery management system to ensure the safety and reliability of EV battery operation. Here, we used a unique hybrid approach to enable complex SOH estimations. The approach hybridizes the Delphi method known for its simplicity and effectiveness in applying weighting factors for complicated decision-making and the grey relational grade analysis (GRGA) for multi-factor optimization. Six critical factors were used in the consideration for SOH estimation: peak power at 30% state-of-charge (SOC), capacity, the voltage drop at 30% SOC with a C/3 pulse, the temperature rises at the end of discharge and charge at 1C; respectively, and the open circuit voltage at the end of charge after 1-h rest. The weighting of these factors for SOH estimation was scored by the ‘experts’ in the Delphi method, indicating the influencing power of each factor on SOH. The parameters for these factors expressing the battery state variations are optimized by GRGA. Eight battery cells were used to illustrate the principle and methodology to estimate the SOH by this hybrid approach, and the results were compared with those based on capacity and power capability. The contrast among different SOH estimations is discussed.