Varying compositions of styrene–butadiene rubber (SBR) and ethylene–propylene diene monomer (EPDM) 50:50 blend containing multiple walled carbon nanotube (MWNT) as nanoparticulate filler (0.5–5%) were prepared and their efficacy for radiation vulcanization was analyzed by gel-content, Charlesby-Pinner parameter, and crosslinking density measurements. Radiation sensitivity of the nanocomposites increased with increase in the MWNT fraction and radiation dose in the dose range studied. The elastic modulus, tensile strength increased with the radiation dose, while elongation at break exhibited downward trend. The extent of reinforcement as assessed using Kraus equation suggested high reinforcement of blend on MWNT addition. The reinforcing mechanism of nanocomposites was studied by various micromechanics models which predicted higher modulus than the experimentally observed results, indicating agglomeration in the nanocomposites. The thermal stability of the composites increased with increase in MWNT loading has been attributed to the antioxidancy induced by nanotubes and higher crosslinking extent of the nanocomposites.