A mixture of two polymer materials, poly (9,9‐dioctylfluorene) (F8), and one of the poly(para‐phenylenevinylene) derivatives, superyellow (SY) have been used to make F81−x:SYx polymer blend system. Under a 3–5 ns pulsed‐laser excitation, this system showed excellent optical properties with low threshold values of ≈14 µJ/cm2 and ≈8 µJ/cm2 for amplified spontaneous emission and optically pumped lasing, respectively. The proposed system was also electroluminescent and an interesting candidate for future research on polymer injection lasers. © 2015 Wiley Periodicals, Inc. J. Polym. Sci., Part B: Polym. Phys. 2016, 54, 15–21