The influence of trans-polyoctylene rubber (TOR) on the mechanical properties, glass-transition behavior, and phase morphology of natural rubber (NR)/acrylonitrile-butadiene rubber (NBR) blends was investigated, With an increased TOR level, hardness, tensile modulus, and resilience increased, whereas tensile strength and elongation at break tremendously decreased. According to differential scanning calorimetry and dynamic mechanical analysis, there were two distinct glass-transition temperatures for a 50/50 NR/NBR blend, indicating the strongly incompatible nature of the blend. When the TOR level was increased, the glass transition of NBR was strongly suppressed. NBR droplets of a few micrometers were uniformly dispersed in the continuous NR phases in the NR/NBR blends. When TOR was added to a 50/50 NR/NBR blend, TOR tended to be located in the NR phase and in some cases was positioned at the interfaces between the NBR and NR phases.