Ternary solar cells comprising both fullerene and nonfullerene acceptors have shown a rapid increase in power conversion efficiency, which holds promise in commercial applications. Despite the rapid progress, there is still a lack of fundamental understanding of the relations between microstructure and (photovoltaic/mechanical) properties in these ternary blend systems. In this work, the dependence of molecular packing, phase separation, mechanical properties, and photovoltaic performance on acceptor composition of a recently certificated ternary system is thoroughly investigated by combined scattering and microscopy characterizations. It is demonstrated that incorporating a small amount (20% by weight) PC71BM to the PM6:N3 binary blend can afford the best device efficiency and the highest ductility simultaneously. This maximum performance is due to the optimized molecular order, orientational texture, and phase separation. Additionally, increasing the amount of PC71BM results in higher elastic modulus, as probed by two distinct methods. A more crucial observation is that the elastic modulus of ternary blends can be well captured by an extended Halpin–Tsai model. This finding is expected to enable the prediction of the elastic modulus of various kinds of ternary blends that are widely used in solar cells and other electronics.