Despite nearly two decades of research, the absence of ideal flexible and transparent electrodes has been the largest obstacle in realizing flexible and printable electronics for future technologies. Here we report the fabrication of ‘polymer-metal hybrid electrodes’ with high-performance properties, including a bending radius <1 mm, a visible-range transmittance>95% and a sheet resistance <10 Ω sq−1. These features arise from a surface modification of the plastic substrates using an amine-containing nonconjugated polyelectrolyte, which provides ideal metal-nucleation sites with a surface-density on the atomic scale, in combination with the successive deposition of a facile anti-reflective coating using a conducting polymer. The hybrid electrodes are fully functional as universal electrodes for high-end flexible electronic applications, such as polymer solar cells that exhibit a high power conversion efficiency of 10% and polymer light-emitting diodes that can outperform those based on transparent conducting oxides.