In this study, leather-like composites were prepared from natural rubber (NR) and two different types of leather waste, namely wet blue leather (WBL) and finished leather (FL). Compounding was carried out on an internal mixer and two-roll mill, and curing was further conducted on a compression molding machine. The effects of leather type and content from 20 to 80 parts per hundred of rubber (phr) on cure characteristics, mechanical properties (hardness and tensile properties) and thermal stability of the as-prepared composites were investigated and compared with those of the unfilled NR compound. The curing rate and crosslink density of all composites were found to be lower than those of the unfilled NR. All WBL-filled NR composites exhibited higher tensile strength than the unfilled NR, while all FL-filled NR composites had lower values. Meanwhile, the hardness and modulus at 200% strain of all composites were increased with increasing leather waste contents compared to those of the unfilled NR. The composites containing low WBL loadings (20 and 40 phr) demonstrated higher elongation at break over the unfilled NR, while the other composites exhibited lower values. Besides, the thermal stability of all NR composites was deteriorated, but still largely retained.