Gamma irradiation radical–radical interaction crosslinking of elastomers and thermoplastic is a special type of crosslinking technique that has gained importance over conventional chemical crosslinking method as process is fast, pollution free, and simple. In this work a blend polymer, based on waste polyethylene and nitrile butadiene rubber, has been irradiated with gamma-rays, mechanically and thermally investigated at varying NBR content. FTIR and SEM techniques were used in addition to the swelling behavior to emphasize the blend formation. Mechanical properties like tensile strength, elongation at break and modulus at different elongations were studied and compared with those of unirradiated ones. A relatively low-radiation dose was found effective in improving the level of mechanical properties. Differential scanning calorimeter and thermogravimetric analysis were used to study the thermal characteristics of the irradiated polymer. Enhancement in thermal stability has been observed for higher NBR containing blends and via radiation-induced crosslinking up to ≈50 kGy.