Possible use of ultra-fine acrylonitrile butadiene rubber powder (UFNBRP) as a filler for natural rubber (NR) was investigated. The UFNBRP was added into NR at various concentrations, and the compound properties were determined. It is found that, with increasing UFNBRP loading, the compound viscosity is increased, whereas both scorch time and optimum curing time are significantly reduced. The results also reveal that UFNBRP has negative effect not only on crosslink density but also on most mechanical properties of the vulcanizate, such as tensile strength, tear strength, compression set, and abrasion resistance. The deterioration of these mechanical properties is thought to arise mainly from the combined effect of large phase size of the dispersed UFNBRP and low interfacial adhesion taking place from the polarity difference between UFNBRP and NR. Interestingly, it is found that, after aging, UFNBRP could promote postcuring phenomenon leading to increases of both relative 100% modulus and relative tensile strength. Oil resistance is also found to improve considerably with increasing UFNBRP loading. This improvement is mainly attributed to the dilution effect, i.e., the higher the UFNBRP loading, the lower the NR portion and, thus, the greater the oil resistance of the vulcanizate.