Stereoblock polybutadiene (PBD) composed of amorphous equibinary cis−1,4/1,2 PBD (e‐PBD, soft) and crystalline syndiotactic 1,2‐PBD (s‐1,2‐PBD, hard) segments is synthesized through one‐pot sequential polymerization with iron(III)2‐ethylhexanoate/triisobutylaluminum/diethyl phosphate [Fe(2‐EHA)3/Al(i‐Bu)3/DEP] catalyst system. The first‐stage polymerization of 1,3‐butadiene (BD) is carried out at a low [Al]/[Fe] ratio to give amorphous e‐PBD block, and sequentially, the in situ addition of excessive Al(i‐Bu)3 and BD to the living polymerization system give rise to a second crystalline s‐1,2‐PBD block. The length of each block is controllable by adjusting cocatalyst and monomer feed ratio. The syndiotactic pentad content is in the range of 63.8–76.6% and increases with the length of s‐1,2‐PBD block. The copolymer exhibits glass transition temperature (Tg) around −40 °C and melting point (Tm) around 168 °C originating from e‐PBD and s‐1,2‐PBD blocks, respectively. The incompatibility between s‐1,2‐PBD and e‐PBD blocks as well as the crystallization of s‐1,2‐PBD block induce the microphase separation in stereoblock PBD. © 2015 Wiley Periodicals, Inc. J. Polym. Sci., Part A: Polym. Chem. 2015, 53, 1182–1188