AbstractPoly(butyl acrylate) grafted styrene and acrylonitrile copolymer (PBA‐g‐SAN, ASA) with core–shell structures were prepared by emulsion polymerization technology to improve the toughness of the poly(vinyl chloride) (PVC). The mechanical properties of the PVC/ASA blends were investigated. The notch impact strength of the PVC/ASA blend could reach 1200 J/m when the 13 phr ASA was added to the PVC. This was several times more than pure PVC resin. Scanning electron microscopy analysis results indicated that the improvement in impact strength of the PVC/ASA blend was attributed to shear yielding induced by ASA particles. Additionally, subtle changes in the ratio of monomers in the shell layer led to significant fluctuations in the mechanical properties of the composites. Dynamic mechanical analysis showed that the intermolecular interaction forces between ASA particles and PVC resins played a key role in improving the toughness of PVC/ASA blend.