Poly(vinyl chloride) (PVC) is widely used for covering electrical cables, but a decrease in its physicochemical, thermal, and mechanical properties has been observed over time. Poly(nitrile butadiene) rubber (NBR), due to its certain properties, was chosen to be blended with PVC to improve its specific properties, when used as insulation for electrical cables installed in nuclear power plants. Thus, this work focuses on the effect of γ radiation at doses ranging from 10 to 50 KGy on the physicochemical, thermal, morphological, and mechanical properties of PVC, as well as on the improvement of its properties by the incorporation of NBR in the PVC matrix as a blend. A series of PVC/NBR blends containing 10, 20, 30, 40, and 50 wt % NBR was prepared and subjected to thermal aging at 80 °C after adding appropriate additives. The results obtained reveal that thermal aging at 80 °C and exposure of the PVC/NBR blend to γ radiation up to 50 KGy do not practically affect the properties of this material.