Cellulose-layered montmorillonite (MMT) nanocomposites were prepared by precipitation from N-methylmorpholine-N-oxide (NMMO)/water solutions. Two hybrid samples were obtained to investigate the influence of the reaction time on the extent of clay dispersion within the matrix. It was observed that longer contact times are needed to yield nanocomposites with a partially exfoliated morphology. The thermal and thermal oxidative properties of the hybrids, which might be of interest for fire-resistant final products, were investigated by thermogravimetry and chemilurninescence (CL). The nanocomposites exhibited increased degradation temperatures compared to plain cellulose, and the partially exfoliated sample showed the maximum stability. This result was explained in terms of hindered transfer of heat, oxygen, and degraded volatiles due to the homogeneously dispersed clay filler. Kinetic analysis of the decomposition process showed that the degradation of regenerated cellulose and cellulose-based hybrids occurred through a multistep mechanism. Moreover, the presence of nanoclay led to drastic changes in the dependence of the activation energy on the degree of degradation. CL analysis showed that longer permanence in NMMO/water solutions brought about the formation of carbonyl compounds on the polymer backbone. Moreover, MMT increased the rate of dehydration and oxidation of cellulose functional moieties. As a consequence, cellulose was found to be less stable at temperatures lower than 100 degrees C. Conversely, at higher temperatures, the hindering of oxygen transfer prevailed, determining an increase in thermo-oxidative stability.