The graft copolymerization of 2‐hydroxyethyl acrylate (HEA) monomer onto natural rubber (NR) latex was successful using cumene hydroperoxide and tetraethylene pentamine as redox initiators. The grafting of poly(2‐hydroxyethyl acrylate) (PHEA) on the NR particles was confirmed by Fourier transform infrared spectroscopy, 1H NMR spectroscopy and TEM. The NR‐g‐PHEA with various grafting percentages (0%, 8.7%, 14.3% and 18.7%) was compounded on a two‐roll mill with a sulfur vulcanization system. The effects of grafting percentage on the cure characteristics, dielectric properties, thermal properties and physical properties of NR‐g‐PHEA vulcanizates were investigated. It was found that increased grafting caused NR‐g‐PHEA vulcanizates to have reduced water contact angle, scorch time and cure time, while the dielectric constant and dissipation factor increased. The NR‐g‐PHEA vulcanizate with 8.7% grafting exhibited the highest delta torque (MH − ML), crosslink density, tensile strength, moduli at 100%, 200% and 300% strains, and hardness, with insignificant loss of elongation at break in comparison to the other cases. © 2018 Society of Chemical Industry