Poly(3-octyl thiophene) (P3OT)–polycarbonate (PC) polymer blends were prepared at different P3OT weight ratios to investigate the effect of P3OT content on the optical, electrical, mechanical, rheological, and thermal properties of P3OT–PC polymer blends. Optical results showed that addition of P3OT to neat PC enhanced the ultraviolet/visible absorption of the neat PC. The optical energy gap of blend system was decreased with increasing P3OT up to 10% P3OT and the blend system appeared to be immiscible when P3OT content was 20% P3OT. Electrical results showed that incorporation of P3OT into neat PC up to 20% P3OT elevated the electrical up to six orders of magnitude and enhanced the polar character of the neat PC. Also, electrical results showed that P3OT–PC blend system became percolated above 0.8% P3OT. Mechanical and rheological results indicated that incorporation of P3OT into neat PC up to 10% P3OT will enhance elastic modulus, complex viscosity, storage modulus ( G′), and loss modulus ( G′) of the blend system while these parameters were found to be decreased when P3OT content in the blend system was 20% P3OT. Generally, all obtained results indicated that P3OT–PC blends are partially miscible blends up to 10% P3OT while this blend system appeared to be immiscible blend at 20% P3OT.