In this chapter, we explore cosmic dynamics in a spatially homogeneous and anisotropic Bianchi type I universe within the framework of Brans-Dicke theory of gravity with a time varying cosmological constant. We assume that the average scale factor a obeys a combination of a power law and exponential law, known as hybrid expansion law and obtain exact solution of the field equations by considering a power law relation between the Brans-Dicke scalar field \( \phi \) and the scale factor a. We studied the evolution of relevant cosmological parameters and checked the validity of the four energy conditions. The statefinder diagnostic pair of the model is also obtained. We find that the model exhibits the cosmic dynamics which is in agreement with the current observational data.