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Effects of blend composition and compatibilizer concentration on the thermal degradation and crystallization characteristics of polyolefin blends are reported. Phase morphology and therefore, blend composition played a crucial role in the thermal degradation behaviour of the blends. Although compatibilization significantly improved the thermal stability of the blends, melting and crystallization parameters of the polymers were only marginally affected. Compatibilized blends with co-continuous morphology exhibited a type of “co-degradation” and “co-crystallization”.