Carbon black (CB)‐filled chloroprene rubber (CR) compounds and vulcanizates containing naphthenic oil (NO), soybean oil (SO), and two different levels of norbornyl modified soybean oil (MSO) were prepared and investigated. The MSO was prepared through the reaction of SO and dicyclopentadiene (DCPD) at different ratios. Various properties including gel fraction, crosslink density, bound rubber fraction, curing behavior, thermal, mechanical, and aging properties of CB‐filled CR containing different oils were compared. It was observed that the addition of SO and MSO could benefit the dispersion of the filler, lower the glass transition temperature, and increase the thermal stability of the CB‐filled CR/MSO compounds and vulcanizates, and also slightly decrease the crosslink density of the CB‐filled CR/MSO vulcanizates compared to that of the CR/NO vulcanizate. With the increase of the modification level of the MSO, the curing time of the CB‐filled CR/MSO compounds was found to be decreased, the tensile property, tear strength, abrasion resistance, and aging resistance of the CB‐filled CR/MSO vulcanizates were improved compared with those of the CB‐filled CR/NO vulcanizate. © 2016 Wiley Periodicals, Inc. J. Appl. Polym. Sci. 2016, 133, 43809.