SEBS-based thermoplastic elastomers modified by PA6 with maleic anhydride grafted copolymer (SEBS-g-MAH or PP-g-MAH) as the compatibilizer were prepared, and the effects of compatibilizer and PA6 on the mechanical and surface properties of blends were investigated in detail. The dosage ratio of SEBSg-MAH to PA6 at 3:5 is an optimal combination for improving mechanical properties. The maleic anhydride of SEBS-g-MAH can react with the terminal amine of PA6 to form the SEBS-g-PA6 graft copolymer as a bridge at the phase interface. With the increase of PA6, a typical sea-island structure gradually appears in the matrix, and when PA6 is 15 phr, the tensile strength and ultimate elongation both reach the maximum of 18.58 MPa and 1097%, and the corresponding wear rate is only 54.4% of that before modification. Furthermore, the addition of PA6 also significantly reduced the contact angle of the blends to below 90 , transforming the hydrophobic surface into a hydrophilic surface. These outcomes provide an effective strategy for reinforcing and modifying the surface properties of thermoplastic elastomers and benefit the development of SEBS in industrial applications.