Herein, three polypyrrole-based nanohybrids were designed and prepared via a nucleophilic substitution reaction, i.e., peripherally substituted porphyrin-functionalized PPy (TPP-PPy), axially coordinated metal-porphyrin-functionalized PPy (SnTPP-PPy), and polypyrrole ternary nanohybrids co-functionalized with peripherally substituted porphyrins and axially coordinated metal-porphyrins (TPP-PPy-SnTPP). The TPP-PPy, SnTPP-PPy and TPP-PPy-SnTPP nanohybrids exhibited improved nonlinear optical and optical limiting performances when compared to the individual PPy and porphyrins under 4 ns, 532 nm laser pulses. Their improved optical nonlinearities were ascribed to a combination of mechanisms and efficient charge transfer effect between the porphyrins and PPy. The charge transfer effect between the porphyrins and PPy was confirmed by UV-vis absorption, fluorescence and electrochemical impedance spectroscopy. The TPP-PPy-SnTPP ternary nanohybrid exhibited the best nonlinear absorption, nonlinear refraction and optical limiting performances because of more effective charge transfer effect, which provides a new avenue for the development of polypyrrole-porphyrin systems in the fields of nonlinear optics and optoelectronic devices.