A series of linear triblock-copolymers of the ABA type in which the central B-block is poly(tetrahydrofuran) (polyTHF) and the A-segments are poly(2-methyl-2-oxazoline) (polyMeOX) were synthesized by a one-pot sequential monomer addition copolymerization, utilizing the living nature of the cationic ring-opening polymerization of both monomers. Films of the copolymers, casted from chloroform solutions, exhibit excellent mechanical properties in comparison with the homopolymers with comparable molecular weights, which was ascribed to the phase separation occurring between the two copolymer segments. Materials, in which the polyTHF B-segment have a molecular weight 13000 g/mol or higher and each polyMeOX A-block a molecular weight 1500 g/mol, kept elastomeric properties up to 130 degrees C notwithstanding the fact that this temperature is considerably higher than the melting point of polyTHF and the glass transition temperature of polyMeOX. It was found that these triblock-copolymer materials show a shape memory effect. These observations are attributed to the high degree of phase separation between the two blocks and the strong polar interactions between the polyMeOX segments.