In this paper, a series of proof-of-concept designs for highly tunable hybrid THz metamaterials based on the phase transition of vanadium dioxide (VO2) are presented. In particular, we verify by full-wave simulations the tunable properties of the hybrid metamaterials including Fano resonances, perfect absorption bands and THz magnetism. Our results indicate that an integration of VO2 structures and conventional metallic resonating components can be used to create THz metamaterials with properties that can be dynamically tuned over a large scale.