Vision-language models (VLMs) have demonstrated remarkable capabilities in bridging visual perception and natural language understanding, enabling a wide range of multimodal reasoning tasks. However, they often produce object hallucinations, describing content absent from the input image, which limits their reliability and interpretability. To address this limitation, we propose Dual-Pathway Circuit Analysis, a framework that identifies and characterizes hallucination-related circuits in VLMs for mechanistic understanding and causal probing. We first apply activation patching across five architecturally diverse VLMs to identify a visual grounding pathway that supports correct predictions and a hallucination pathway that drives erroneous outputs. We then introduce Conditional Pathway Analysis (CPA) to characterize pathway-level interactions, revealing that grounding components remain strongly redundant in both correct and hallucinating samples but undergo a consistent polarity flip, shifting from supporting the ground truth on correct samples to aligning with the hallucinated answer on erroneous ones. We further perform targeted suppression of hallucination-pathway components, showing that scaling these components reduces object hallucination by up to 76% with minimal accuracy cost, and validate that the same circuit selectively transfers to relational but not attribute hallucination. Evaluations on POPE-adversarial and AMBER show that the identified circuits are consistent across architectures, support causal intervention, and transfer selectively across hallucination types.