Multimodal neuroimages, such as diffusion tensor imaging (DTI) and resting-state functional MRI (fMRI), offer complementary perspectives on brain activities by capturing structural or functional interactions among brain regions. While existing studies suggest that fusing these multimodal data helps detect abnormal brain activity caused by neurocognitive decline, they are generally implemented in Euclidean space and can't effectively capture the intrinsic hierarchical organization of structural/functional brain networks. This paper presents a hyperbolic kernel graph fusion (HKGF) framework for neurocognitive decline analysis with multimodal neuroimages. It consists of a multimodal graph construction module, a graph representation learning module that encodes brain graphs in hyperbolic space through a family of hyperbolic kernel graph neural networks (HKGNNs), a cross-modality coupling module that enables effective multimodal data fusion, and a hyperbolic neural network for downstream predictions. Notably, HKGNNs represent graphs in hyperbolic space to capture both local and global dependencies among brain regions while preserving the hierarchical structure of brain networks. Extensive experiments involving over 4,000 subjects with DTI and/or fMRI data demonstrate the superiority of HKGF over state-of-the-art methods in two neurocognitive decline prediction tasks. The proposed HKGF is a general framework for multimodal data analysis, facilitating objective quantification of brain structural or functional connectivity changes associated with neurocognitive decline.