The present study deals with the effect of adding different fillers (semiconductor and insulator) on a polystyrene (PS)/poly‐methyl methacrylate (PMMA) polymer blend using casting method. A constant content (1 wt%) of semiconductors [multiwalled carbon nanotubes (MWCNTs), polyaniline (PANI), zinc oxide nanoparticles (NPs), and titanium dioxide NPs] and insulator [silicon dioxide NPs] fillers is used. Transmission electron microscopy images for MWCNTs show that most nanotubes have an average diameter of 7–11 nm. Moreover, the average size of all metal nano‐oxides is almost 20 nm and confirmed by X‐ray diffraction. Fourier‐transform infrared spectroscopy confirms the formation and the interaction between PS/PMMA polymer blend and fillers. The structural, mechanical, optical, and dielectric properties of the prepared polymer nanocomposites are studied using different tools. Optical characteristics such as absorbance, reflection, bandgap energy (E
g), and optical dielectric components (real and imaginary) are studied. These results reveal that pure 20PS/80PMMA film has E
g(direct) = 4.46 eV, which drops as different fillers are incorporated into the blend. The addition of MWCNTs, PANI to the PS/PMMA blend improves the electrical conductivity due to the growth of conductive paths between the filler and the blending matrix.