It is known that the macroscopic properties of multilayer polymer films are largely dominated by the diffuse interphase formed via interfacial diffusion between neighboring layers. However, not much is known about the origin of this effect. In this work, we reveal the role of interfacial diffusion and the diffuse interphase development in multilayer polymer films, based on a compatible poly(vinylidene fluoride)/poly(methyl methacrylate) system fabricated by forced-assembly micro-/nanolayer coextrusion. Interestingly, the layer morphology is found to prevail in all investigated multilayer films, even for the nanolayered system where the interdiffusion is substantial. It is also demonstrated that, in the presence of macromolecular and geometrical confinements, interfacial diffusion significantly alters the crystalline morphology and microstructure of the resulting micro-/nanolayered films, which leads to quantitatively different dielectric and rheological properties. More importantly, the combination of dielectric relaxation spectroscopy and energy-dispersive X-ray analysis further reveals that multiple diffuse interphases with various length scales exist in the multilayer structures. The presence of these multiple interphases is explained in terms of a proposed physical picture for the interdiffusion of fast-mode mechanism occurring in the coextrusion process, and their length scales (i.e., interphase thicknesses) are further mapped quantitatively. These findings provide new insights into the effects of interfacial diffusion and diffuse interphases toward tailoring interfaces/interphases in micro-/nanolayered polymer structures and for their advanced applications.