In the present work, proton exchange membranes were prepared from SEBS copolymer and natural latex modified with vanadium pentoxide (V2O5) to evaluate its performance as an electrolyte in a fuel cell through the characterization of its physicochemical and mechanical properties. The results show that the 0.5% V2O5 addition was favorable for the water absorption test due to its hydrophilic character. The ion exchange capacity had a similar behavior since water is the means for the main mechanisms of protons to occur inside the membrane. The stretching properties and maximum effort decrease with increasing the V2O5 load, but it boosted the Young's modulus. With the FTIR analysis, the presence of V2O5 was verified in the loaded membranes. Therefore, it is necessary to improve ion exchange capacity and mechanical properties to apply this membranes as an electrolyte in a fuel cell.