Disposal of composite materials used vastly in structural applications raises the need to study the reprocessability of these systems for environmental benefits. In this paper, composites of recycled high density polyethylene (R) containing 30 wt.% banana fiber (BF)/7.5 wt.% fly ash cenospheres (FACS) were prepared with 3 wt.% maleic anhydride grafted high density polyethylene (MA-g-HDPE) as a coupling agent using twin screw extrusion followed by injection molding. The effects of thermal cycles (two times extrusion followed by injection molding) were studied on R and its composites. The samples were characterized by using tensile, flexural, izod impact tests, scanning electron microscopy (SEM), differential scanning calorimetry (DSC), thermogravimetry (TGA) and dynamic mechanical analysis (DMA). The tensile and flexural properties were improved by addition of both BF/FACS into the R matrix. The percentage retention in tensile properties of R/BF/FACS(E2) biocomposites (i.e. two times extrusion followed by injection molding) is more than 80%, while that for flexural properties is more than 90%. This indicates that R/BF/FACS composites exhibit good retention ability in mechanical properties after subjecting to two times twin-screw extrusion followed by injection molding. DSC results revealed that repeated extrusion improved the crystallization temperature and crystallinity of the composites with a slight reduction in melting temperature. From the TGA results, it was observed that the thermal stability (e.g. T-onset) of R was reduced by the addition of BF/FACS. However, repeated extrusion showed an improvement in thermal stability of the composites.