In recent years, addition of nanoparticles to fluids and polymers has been used as a way of modifying rheological properties. Poly(vinyl alcohol) (PVA) and titanium dioxide (TiO2) nanoparticles aqueous composite nanofluids were prepared through the use of ultrasonic vibration. In fact, ultrasonic vibration is an advantageous method for nanoparticle dispersion. The preparation method prevents reduction of the polymer's molecular weight. TiO2 nanoparticles with different concentrations were employed to investigate the rheological characteristics of composite nanofluids. Rheological characteristics of base fluids and composite nanofluids were measured at different temperatures. Based on the results, all composite nanofluids, as well as base fluids, exhibited non‐Newtonian behavior and rheological characteristics of composite nanofluids, following the Herschel‐Bulkley model. In addition, model parameters are functions of temperature, PVA, and TiO2 nanoparticle concentrations. Also, two‐way interactions among temperature, PVA, and TiO2 nanoparticle concentrations affect flow index and consistency index of the Herschel‐Bulkley model. J. VINYL ADDIT. TECHNOL., 23:234–240, 2017. © 2015 Society of Plastics Engineers