In‐situ polymer blends of polystyrene (PS)/poly(methyl methacrylate) (PMMA) with controlled and variable different compositions and molecular weights were found to be successfully synthesized by “chain transfer living polymerization (CTLP)” methodology by a combination of size‐exclusion chromatographic analysis, differential scanning calorimetry (DSC), UV/Vis and H NMR spectroscopy, and optical microscopic analysis. The PMMAs prepared in tetrahydrofuran (THF) in the presence of polystyrene exhibit highly syndiotactic stereoregularity (over 70 mol‐%) and a glass transition temperature over 120°C. A dispersed morphology was found even for blends with over 31 vol.‐% of the weight fraction of one component due to the discrepancy in the molecular weights of two components in the PS/PMMA blends. A ternary polymer blend system having PS/PMMA/PS ‐block‐ PMMA can be generated by control of the concentration of fluorene as the chain transfer agent in the CTLP.