Shape memory composites of trans‐1,4‐polyisoprene (TPI) and low‐density polyethylene (LDPE) with easily achievable transition temperatures were prepared by a simple physical blending method. Carbon nanotubes (CNTs) were introduced to improve the mechanical properties of the TPI/LDPE composites. The mechanical, cure, thermal, and shape memory properties of the TPI/LDPE/CNTs composites were investigated in this study. In these composites, the cross‐linked network generated in both the TPI and LDPE portions acted as a fixed domain, while the crystalline regions of the TPI and LDPE portions acted as a domain of reversible shape memory behavior. We found that CNTs acted as not only reinforced fillers but also nucleation agents, which improved the crystalline degree of the TPI and LDPE portions of the composites. Compared with the properties at the other CNT doses, the mechanical properties of the TPI/LDPE composites when the CNT dose was 1 phr were improved significantly, showing excellent shape memory properties (Rf = 97.85%, Rr = 95.70%).