In this study, we prepared Polyvinyl chloride (PVC)/Nitrocellulose (NC) polymer blend by the solution casting technique. The structural properties and decreased interplanar spacing and crystalline nature of the PVC/NC blends were confirmed by an XRD technique. Basic chemical fingerprint regions of PVC/NC blends were confirmed by the Fourier transform IR method. Optical properties correlated with a decreased direct and indirect bandgap energy of PVC/NC were estimated using UV–visible spectra. They exhibited a shift in the absorption spectra towards the longer wavelength region due to process of charge transfer in the blend system. An increased microporous nature of the blends was demonstrated by SEM. Based on the Maxwell–Wagner model the dielectric constant and relative loss were found to have a maximum in the low frequency region which may be contributed by the polar nature of NC. We confirmed the hydrophilic nature of the PVC/NC blends due to the presence of hydroxyl groups by the goniometer technique. The thermophysical properties of the blends were measured by Lee's disc method. NC loading in the blend system increased the thermal conductivity from 0.12 to 0.18 W/(m.K). The Shore A softness test of the blends exhibited an 18% increase. We quantified structure, bandgap, morphology, and dielectric, surface and thermal properties as a function of NC blending. This new emerging blend may be a remedy for various engineering applications. © 2022 Society of Industrial Chemistry.