This paper presents a novel probability distribution, namely the new XLindley distribution, derived from a unique combination of exponential and gamma distributions through a special mixture formulation. The study extensively investigates the mathematical properties of the proposed distribution, including but not limited to the moment generation function, moments of different orders, mode identification, and the quantile function. Furthermore, the research employs a Monte Carlo simulation to assess and compare the performance of various estimators in estimating the unknown parameter of the new XLindley distribution. These estimators are carefully evaluated and analyzed in terms of their efficiency and accuracy, providing valuable insights into the practical application of the new distribution in statistical modeling and data analysis contexts. The voltage and failure time data in the field of engineering are used to model the proposed distribution. The new model is compared with many current distributions such as Xlindley, gamma, Weibull, exponential, Lindley, Shanker, Akash, Zeghdoudi, Chris-Jerry, and Xgamma. Among all models, it is concluded that the new one-parameter distribution performed the best in modeling based on criteria such as the Akaike information criterion, Bayesian information criterion, and others. The real data results show that the proposed distribution exhibits greater flexibility and improved goodness of fit compared to alternative distributions. The new XLindley distribution could be useful in modeling real-life data and may warrant further exploration in future research. Overall, this study contributes to the field of probability distributions and provides new insights for statistical modeling.