This article discusses a chemical route to prepare new ethylene/propylene copolymers (EP) containing a terminal reactive group, such as ϕ‐CH3 and OH. The chemistry involves metallocene‐mediated ethylene/propylene copolymerization in the presence of a consecutive chain transfer agent—a mixture of hydrogen and styrene derivatives carrying a CH3 (p‐MS) or a silane‐protected OH (St‐OSi). The major challenge is to find suitable reaction conditions that can simultaneously carry out effective ethylene/propylene copolymerization and incorporation of the styrenic molecule (St‐f) at the polymer chain end, in other words, altering the St‐f incorporation mode from copolymerization to chain transfer. A systematic study was conducted to examine several metallocene catalyst systems and reaction conditions. Both [(C5Me4)SiMe2N(t‐Bu)]TiCl2 and rac‐Et(Ind)2ZrCl2, under certain H2 pressures, were found to be suitable catalyst systems to perform the combined task. A broad range of St‐f terminated EP copolymers (EP‐t‐p‐MS and EP‐t‐St‐OH), with various compositions and molecular weights, have been prepared with polymer molecular weight inversely proportional to the molar ratio of [St‐f]/[monomer]. © 2005 Wiley Periodicals, Inc. J Polym Sci Part A: Polym Chem 43: 1858–1872, 2005