The isothermal crystallization and melting behavior of the poly(epsilon-caprolactone) (PCL)/poly(ethylene oxide)(PEO) diblock copolymer has been studied by WAXD, SAXS, and DSC methods. Only the PCL block is crystallizable; the PEO block of weight fraction 20% cannot crystallize, although its corresponding homopolymer has strong crystallizability. The long period, amorphous layer, and crystalline lamella of the PCL/PEO block copolymer all increase with the rise in the crystallization temperature, and the thickness of the amorphous layer is much larger than that of crystalline lamella due to the existence of the PEO block in the amorphous region. The isothermal crystallization of the PCL/PEO block copolymer is investigated by using the theory of Turnbull and Fischer. It is found that the amorphous PEO block has a great influence on the nucleation of PCL block crystallization, and the extent of this influence depends on crystallization conditions, especially temperature. The outstanding characteristics are the phenomenon of the double melting peaks in the melting process of the PCL/PEO block copolymer after isothermal crystallization at different temperatures and the transformation of melting peaks from double peaks to a single peak with variations in the crystallization condition. They are related mainly to the existence of the PEO block bonding chemically with the PCL block. In summing up results of investigations into the crystallization and melting behavior of the PCL/PEO block copolymer, it is interesting to notice that when the PCL/PEO block copolymer crystallizes at three different crystallization temperatures, i.e., below 0 degrees C, between 0 and 35 degrees C, and above 35 degrees C, the variation of peak melting temperature is similar to that of overall crystallization rates in the process of isothermal crystallization. The results can be elucidated by the effect of the PEO block on the crystallization of the PCL block, especially its nucleation.