A novel single-component composite based on phthalonitrile end-capped polyarylene ether nitrile (PEN-Ph) was prepared successfully via hot compression. In the PENPh system, the crosslinking reactions and crystallization exist simultaneously, and the crystals are embedded in the crosslinked PEN-Ph matrix, which can work as reinforcement. Analysis of the Non-isothermal cold crystallization kinetics of the PEN-Ph system was performed by using differential scanning calorimetry (DSC), and the activation energy of the crystallization process is obtained to be 217.5 kJ·mol −1 . The DSC and SEM analysis provide the evidence for that there exists crosslinking reactions as well as crystallization behavior. However, the crosslinking reaction with excessive speed will restrict the crystallization behavior of the PEN-Ph. Furthermore, the DMA and mechanical measurements indicate that the glass transition temperature and mechanical properties are influenced by not only the crosslinking degree but also the crystallinity. The tensile strength of the single-component composite is 111.0 MPa, increased by about 10 MPa than that of amorphous PEN-Ph sheet.