Recycled bottle-grade PET (rPET) is a valuable low-cost polymeric material. However, enhancement of its mechanical properties is necessary for many applications. This work is focused on clay-reinforced/compatibilized rPET/elastomer system. Although the clay addition to various rPET/elastomer blends caused a remarkable refinement of structure, more pronounced for clay with less polar modification, both a gain or decrease in strength and toughness occurred, whereas an increase in modulus was found for all systems. This is a consequence of simultaneous complex affecting many parameters by clay and both antagonistic and synergistic combination of respective effects. Best results were found for low contents of EPR rubber and its preblending with clay. The presented results indicate that a suitable combination of nanosilicates with rubber can lead to rPET materials with fairly enhanced properties.