Polyolefin copolymers have been an important commercial product since their invention. Hence, it is crucial to study their co‐ and terpolymers due to their extensive use. In this paper, in situ synthesis of ethylene‐propylene (EP) copolymer, its terpolymer with styrene, and composites with nickel‐chromium (NiCr) layered double hydroxide (LDH) has been reported along with their thermal properties. Styrene had a significant impact on the activity, increasing the yield by 195% and 235% with an addition of 0.5 and 1.0 mL styrene, respectively, compared to neat EP. The crystallinity, melting temperature, and thermal stability decreased due to styrene; nevertheless, it performed better compared to a similar work of terpolymer where α‐olefin was the third monomer. The incorporation of NiCr LDH as a drop‐in filler during in situ polymerization affected adversely the thermal stability of the terpolymer. However, the ultrasonication treatment improved the thermal stability of the final product.