Neutralization of maleated EPDM rubber by zinc oxide results in an ionic elastomer. The rate and extent of the neutralization reaction increase by addition of stearic acid. Although the rubber is not easy processable as such, incorporation of zinc stearate at a loading of 30 phr makes the rubber behave like a thermoplastic during high temperature (greater than or equal to 150 degrees C) processing. Furthermore, zinc stearate causes improvement in the physical properties of the rubber under ambient conditions. It is believed that zinc stearate acts as a reinforcing filler under ambient conditions and as a plasticizer for the ionic domains at higher temperature (that is, above its melting point, 128 degrees C). The conclusions are based on the results of dynamic mechanical, rheological, and infrared spectroscopic studies.