The effects of the hydroxypropylmethylcellulose (HPMC) concentration and the operation parameters on the starch/HPMC granule properties prepared in a high shear granulator are investigated. At a lower concentration of 3.8% or 4.9%, HPMC acts as an intergranule binder. At a higher concentration of 7.2%, HPMC acts as an intragranule matrix-forming polymer. At the intermediate HPMC concentration of 6.1%, HPMC shows dual roles as a binder and as matrices. At the intermediate HPMC concentration, a new granule oscillating growth profile is observed. The impeller rotational speed has a more pronounced effect on the granule size distribution at the intermediate HPMC concentrations. The prepared granules are rounder and have narrow size distributions. The granules also show the highest compaction loading of 140 N and the highest tablet crushing force of 39.95 N.