Long glass fibers (GF) reinforced thermoplastic polyurethane and poly(butylene terephthalate) with the different poly(ethylene‐butylacrylate‐glycidyl methacrylate copolymer) (PTW) compatibilizer content (LGF/TPU/PBT/PTW) composites were prepared by using self‐designed impregnation device. Effect of the different PTW compatibilizer content on rheological properties (for example, viscosity curve, storage modulus, loss modulus, loss angle, and relaxation spectrum) of LGF/TPU/PBT/PTW composites are studied. dynamic mechanical properties analysis results indicated that the compatibility of the LGF/TPU/PBT/PTW composites firstly increase and then decrease with increasing the PTW content. Effect of the different PTW content on thermal properties of LGF/TPU/PBT/PTW composites are studied by differential scanning calorimetry and thermogravimetric analyses. Morphological observation by scanning electron microscopy revealed a thin layer of matrix resins adhering to the surface of GF indicating that epoxy functional group in the PTW reacts with GF surface and PBT matrix. Moreover, mechanical properties of LGF/TPU/PBT/PTW composites with the different PTW content are studied. POLYM. COMPOS., 39:E1354–E1363, 2018. © 2016 Society of Plastics Engineers