This study explored the stability and thermo‐kinetic features of double base nitrocellulose (NC)/diethylene glycol dinitrate (DEGDN) propellant supplemented with Kraft lignin. For this purpose, the impact of 2‐nitrodiphenylamine (2‐NDPA), 1,3‐dimethyl‐1,3‐diphenylurea (C‐II) and lignin stabilizers on the molecular structure, morphology, and thermokinetic behavior of NC/DEGDN composite were thoroughly analyzed. Experimental results showed that lignin exhibits promising stabilizing efficiency comparable to that of the conventional 2‐NDPA and C‐II. In addition, thermal findings highlighted that the incorporation of 2‐NDPA, C‐II, and lignin has improved the thermal decomposition temperature of NC/DEGDN propellant. The investigation of the thermolysis kinetics of stabilized NC/DEGDN composites demonstrated an increase in the Arrhenius parameters with respect to the NC/DEGDN baseline. Above all, this investigation contributes to the ongoing efforts to develop new environmentally friendly stabilizers for nitrate esters‐based composites.