The paper describes the preparation and characterization of conductive polyaniline-modified polymers by growing of aniline onto functionalized poly(styrene-co-p-methylstyrene) [P(St-co-MSt)]. For this purpose, P(St-co-MSt) was synthesized via nitroxide mediated radical polymerization (NMRP) and then N-boromosuccinimide was used for introduction of bromine to the benzylic positions of copolymer. Afterwards, 1,4-phenylenediamine was linked to the brominated P(St-co-MSt) and functionalized copolymer [P(St-co-MSt)-NH2] was prepared. The graft copolymerization of aniline monomers onto functionalized P(St-co-MSt) was initiated by oxidized phenylamine groups after addition of ammonium peroxydisulfate (APS), and p-toluenesulfonic acid-doped PANI was chemically grafted onto P(St-co-MSt) via oxidation polymerization. The obtained terpolymer was studied by FTIR and UV-Vis spectroscopy and its thermal behaviour were examined by DSC and TGA analyses. The conductivity of terpolymer was measured by four-point probe method and electroactivity was measured by cyclic voltammetry (CV). The solubility of P(St-co-MSt)-g-PANI was examined in common organic solvents.