colloquial shortening of husband (n.) attested from 1680s, with -y (3).
Entries linking to hubby
husband n.
Old English husbonda "male head of a household, master of a house, householder," probably from Old Norse husbondi "master of the house," literally "house-dweller," from hus "house" (see house (n.)) + bondi "householder, dweller, freeholder, peasant," from buandi, present participle of bua "to dwell" (from PIE root *bheue- "to be, exist, grow," and compare bond (adj.)).
Slang shortening hubby is attested by 1680s. Beginning late 13c. it replaced Old English wer as "married man (in relation to his wife)" and became the companion word of wife, a sad loss for English poetry. Old English wer, in the broadest sense "man, male person" (from PIE root *wi-ro- "man"), is preserved in werewolf.
-y 3
suffix in pet proper names (such as Johnny, Kitty), first recorded in Scottish c. 1400; according to OED it became frequent in English 15c.-16c. Extension to surnames seems to date from c. 1940. Use with common nouns seems to have begun in Scottish with laddie (1546) and become popular in English due to Burns' poems, but the same formation appears to be represented much earlier in baby and puppy.