In this paper, a series of polystyrene films with different melt stretching strains were prepared using the extrusion casting melt stretching method. At room temperature, the elongation at break of polystyrene can reach up to 70 %, showing a brittle-ductile transition behavior below the glass transition temperature. In order to clarify the structural and performance changes caused by melt stretching, the hardening modulus and entanglement density were calculated using the rubber elasticity theory, and the free volume parameters were calculated using Positron Annihilation Lifetime Spectroscopy (PALS). It was found that melt stretching resulted in an increase in the hardening modulus and entanglement density, with minimal change in free volume size but a significant increase in free volume concentration. The rise in free volume concentration led to a decrease in yield strength, elastic modulus, and the yield energy barrier. Concurrently, the brittle-to-ductile transition temperature exhibited a linear decrease with increasing free volume concentration. When the brittle-to-ductile transition temperature approached room temperature, the sample displayed a physical aging resistance of over 9 months. The increase in chain entanglement density facilitated the stable formation of a craze zone during the tensile hardening stage, enabling ductile deformation of the polystyrene film. By tracking the structural evolution of the sample with a melt stretching strain (MSS) of 4.23 during the aging stage under room temperature, we found that the aging process is a process in which the free volume concentration decreases, resulting in an increase in the yield strength and an increase in the yield energy barrier. Chain entanglements formed by melt stretching relax and disentangle during the aging stage, but interchain interactions form cohesional entanglements. As secondary entanglement, cohesional entanglement undergo slip failure when stretched and cannot promote the formation of craze areas. Hence, free volume concentration and chain entanglement density emerged as two pivotal factors influencing the brittle-ductile transition of polystyrene below the glass transition temperature. The melt stretching process increased the free volume concentration and chain entanglement density in polystyrene, achieving a brittle-to-ductile transition below the glass transition temperature.