The effect of di‐2‐ethylhexyl phthalate (DOP) plasticizer on the degradation behaviour of 50/50 poly(vinyl chloride)/epoxidized natural rubber (PVC/ENR) blend was studied by long‐term exposure to ambient conditions (27–30°C) in the laboratory. While the unplasticized blend showed obvious changes in physical properties such as hardening, loss of elasticity and embrittlement, the plasticized blend retained its properties. Thermo‐oxidative ageing studies were carried out by evaluating the mechanical properties before and after ageing in an air oven at 80°C for 168 h. The relatively rapid degradation of PVC/ENR blend has been attributed to the high concentration of epoxy groups and the occurrence of ring‐opening reactions to form ether crosslinks. It was found that the plasticizer confers adequate stabilization upon the addition of a certain threshold amount. The optimum amount of plasticizer required to adequately stabilize the blend is 20 phr. Above this there is a tendency for plasticizer migration to occur. The use of an antioxidant in conjunction with the plasticizer further stabilizes the blend. The general trend is of decrease in mechanical and physical properties with increase in DOP concentration. In addition, ease of processing also increases as indicated by the torque maxima and minima obtained from the Brabender plastograms.