In this article, biodegradable polymer/clay nanocomposites were prepared. The matrices used were based on blends of Polycaprolactone (PCL) and Anhydride‐Functional Polycaprolactone (PCL‐gMA) with Thermoplastic Starch (TPS). Nanocomposites films based on PCL/TPS and PCL/PCL‐g‐MA/TPS blends reinforced with 1 and 3 wt % of natural montmorillonite and two organo‐modified ones were prepared by melt intercalation followed by compression molding. The study was designed focusing on packaging applications. Grafting maleic anhydride onto PCL was efficient to improve PCL/TPS compatibility but did not modify matrix/nanoclay interaction. Matrix compatibilization and nanoclays increased the Younǵs modulus and slightly decreased the maximum stress of the TPS/PCL matrix. Nanoclay functionalization improved nanoclay dispersion in the blends but it was not reflected in mechanical properties improvements. The water adsorption of the compatibilized matrix was reduced after clay incorporation. A slight decrease in the biodegradation rate was observed with the addition of nanoclay. © 2016 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2016, 133, 44163.