Motion artifact contamination in near-infrared spectroscopy (NIRS) data has become an important challenge in realizing the full potential of NIRS for real-life applications. Various motion correction algorithms have been used to alleviate the effect of motion artifacts on the estimation of the hemodynamic response function. While smoothing methods, such as wavelet filtering, are excellent in removing motion-induced sharp spikes, the baseline shifts in the signal remain after this type of filtering. Methods, such as spline interpolation, on the other hand, can properly correct baseline shifts; however, they leave residual high-frequency spikes. We propose a hybrid method that takes advantage of different correction algorithms. This method first identifies the baseline shifts and corrects them using a spline interpolation method or targeted principal component analysis. The remaining spikes, on the other hand, are corrected by smoothing methods: Savitzky–Golay (SG) filtering or robust locally weighted regression and smoothing. We have compared our new approach with the existing correction algorithms in terms of hemodynamic response function estimation using the following metrics: mean-squared error, peak-to-peak error (), Pearson’s correlation (), and the area under the receiver operator characteristic curve. We found that spline-SG hybrid method provides reasonable improvements in all these metrics with a relatively short computational time. The dataset and the code used in this study are made available online for the use of all interested researchers.