Detection of high-resistance faults on meshed low-voltage dc grids poses a challenge, as such faults have very low fault current magnitudes. This paper proposes a hybrid passive-overcurrent relay to overcome this problem. The proposed relay consists of one current and one voltage transducer, as well as two passive elements: 1) an inductor; and 2) a capacitor. For bolted and relatively low-resistance faults, the relay uses a simple overcurrent function to detect the resultant high fault current magnitudes within 2 ms. On the other hand, for relatively high-resistance faults, a real-time discrete wavelet transform is used to detect the voltage transients generated by the relay passive elements in less than 5 ms. Furthermore, the proposed relay is inherently capable of identifying the type of fault. The proposed approach relies on local-bus measurements to detect and classify various types of faults with resistance up to 200 ohms. Analytical modeling proves that the proposed approach is system independent. Testing the hybrid passive-overcurrent relay on a ±750 V meshed TN-S dc grid reveals that the proposed relay is fast, sensitive, and selective under various conditions.