In this study, we carried out the synthesis of a thermo- and pH-sensitive binary graft, based on N-vinylcaprolactam (NVCL) and pH sensitive acrylic acid (AAc) monomers, onto chitosan gels (net-CS) by ionizing radiation. Pre-oxidative irradiation and direct methods were examined, and materials obtained were characterized by FTIR-ATR, thermogravimetric analysis (TGA), scanning electron microscopy (SEM), and swelling tests (equilibrium swelling time, critical pH, and temperature). The best synthesis radiation method was the direct method, which resulted in the maximum grafting percentages (~40%) at low doses (10–12 kGy). The main goal of this study was the comparison of the swelling behavior and physicochemical properties of net-CS with those of the binary system (net-CS)-g-NVCL/AAc with the optimum grafting percentage (~30%). This produced a material that showed an upper critical solution temperature (UCST) of 33.5 °C and a critical pH value of 3.8, indicating the system is more hydrophilic at higher temperatures and low pH values. Load and release studies were carried out using diclofenac. The grafted system (32%) was able to load 19.3 mg g−1 of diclofenac and release about 95% within 200 min, in comparison to net-CS, which only released 80% during the same period. When the grafted system was protonated before diclofenac loading, it loaded 27.6 mg g−1. However, the drug was strongly retained in the material by electrostatic interactions and only released about 20%.