Fourth-placed Oblique Seville of Jamaica was three thousandths of a second off the podium as all three men clocked 9.88.
Tebogo, 20, is the first African to win a world 100m medal, while Hughes, the fastest in the world coming into the championships with 9.83, is the first Briton on the men's 100m podium since Darren Campbell took bronze 20 years ago.
"I needed to make sure that I was accelerating and when I was at 60 metres I took the lead," Lyles said.
The two-times world champion in the 200m will now go for the sprint double, last achieved by Usain Bolt in 2015, before hoping to sign off with a win in the sprint relay.
Defending 100m world champion Fred Kerley of the U.S. failed to qualify for the final after running 10.02 in the semis.
Persons:
Noah Lyles, Marton Monus, Hughes, Kerley, Briton Zharnel Hughes, Christian Coleman, Darren Campbell, Lyles, COVID, Usain Bolt, I's, Fred Kerley, Mitch Phillips, Toby Davis, Pritha
Organizations:
National Athletics Centre, Briton, Tokyo Olympics, Thomson
Locations:
Budapest, Hungary, U.S, BUDAPEST, Botswana, Seville, Jamaica, United States