Concepts for the characterization of composite latex particles by advanced solid‐state NMR methods are discussed. The techniques are based on 1H spin‐diffusion experiments usually applied to detect heterogeneities in polymers and polymer blends. In latexes, they allow one to characterize the morphology, including substructures in the interphase between core and shell. Motional heterogeneities within the phases are also detected. The techniques are used to characterize an extended series of core—shell particles composed of poly(n‐butyl acrylate) (PBuA) and poly(methyl methacrylate) (PMMA) synthesized in semicontinuous two‐step emulsion polymerization processes. The influence of process parameters such as synthesis temperature, crosslinking density in the core, shell content, particle size, and annealing are investigated.