Motivated by environment preservation, the increased use of eco-friendly materials such as biodegradable polymers and biopolymers has raised the interest of researchers and the polymer industry. In this approach, this work aimed to produce bioblends using poly (lactic acid) (PLA) and high-density biopolyethylene (BioPE); due to the low compatibility between these polymers, this work evaluated the additional influence of the compatibilizing agents: poly (ethylene octene) and ethylene elastomer grafted with glycidyl methacrylate (POE-g-GMA and EE-g-GMA, respectively), polyethylene grafted with maleic anhydride (PE-g-MA), polyethylene grafted with acrylic acid (PE-g-AA) and the block copolymer styrene (ethylene-butylene)-styrene grafted with maleic anhydride (SEBS-g-MA) to the thermal, mechanical, thermomechanical, wettability and morphological properties of PLA/BioPE. Upon the compatibilizing agents’ addition, there was an increase in the degree of crystallinity observed by DSC (2.3–7.6% related to PLA), in the thermal stability as verified by TG (6–15 °C for TD10%, 6–11 °C TD50% and 112–121 °C for TD99.9% compared to PLA) and in the mechanical properties such as elongation at break (with more expressive values for the addition of POE-g-GMA and SEBS-g-MA, 9 and 10%, respectively), tensile strength (6–19% increase compared to PLA/BioPE bioblend) and a significant increase in impact strength, with evidence of plastic deformation as observed through SEM, promoted by the PLA/ BioPE phases improvement. Based on the gathered data, the added compatibilizers provided higher performing PLA/BioPE. The POE-g-GMA compatibilizer was considered to provide the best properties in relation to the PLA/BioPE bioblend, as well as the PLA matrix, mainly in relation to impact strength, with an increase of approximately 133 and 100% in relation to PLA and PLA/BioPE bioblend, respectively. Therefore, new ecological materials can be manufactured, aiming at benefits for the environment and society, contributing to sustainable development and stimulating the consumption of eco-products.