In this study, composite membranes based on polyphenylene oxide, polyaniline (as separation layer) and interpenetrating layer of polyphenylene oxide and polyaniline were prepared. It was demonstrated for the first time that the interpenetrating layer of polyphenylene oxide and polyaniline plays a crucial role in the transport and separation properties. Moreover, the preparation of such composite membranes is very simple and inexpensive. The composite membranes were characterized by TEM (to confirm the presence of interpenetrating layer), and IR and Raman spectroscopies (to confirm the deposition of polyaniline). The membranes simultaneously possess good transport properties and excellent separation coefficients for industrially interesting gases, such as: O2/N2 > 13, H2/CO2 > 8, CO2/CH4 > 110, H2/CH4 > 1000 and H2/N2 > 450. Importantly, the composite membranes have long-term stability: after 14 months the transport properties and separation coefficients had not changed, suggesting superior stability.