Differential scanning calorimetry (DSC), Fourier transformed infrared spectroscopy (FT-IR) and polarized optical microscopy (POM) characterizations were performed to reveal interaction between amorphous poly(p-vinyl phenol) (PVPh) and crystalline stereocomplex of poly(L-lactic acid) (PLLA) and poly(D-lactic acid) (PDLA). The negative value of the interaction parameter 12 clearly confirms a thermodynamic miscibility in the ternary blend. At low contents, PVPh is well dispersed in the ternary blends, but PVPh may aggregate to nanodomains by self-associated hydrogen-bonding upon annealing. In addition, PVPh serves as an effective agent in reducing the spherulite sizes of the PLLA/PDLA crystals, which may be favorable in controlling the macroscopic properties. The Avrami and Tobin kinetic analysis methods were carried out to analyze the nonisothermal crystallization data, and the results showed that the ternary blends with an optimal range of 2-10 wt % PVPh were faster in the crystallization rate and smaller in the spherulite size than those with no PVPh or with PVPh contents greater than 10 wt %. Ternary blend containing higher PVPh contents may form large phase-separated domains and growth of the stereocomplex is hindered under the nonisothermal crystallization condition.