Ionomeric polyblends of the zinc salt of maleated EPDM rubber (Zn-mEPDM) and the zinc salt of maleated polypropylene (Zn-mPP) in the composition range from 90/10 to 60/40 wt% behave as ionic thermoplastic elastomers (ITPE), which show synergism in physical properties. The ionomeric polyblend shows higher physical properties than the corresponding non-ionomeric polyblend. Infrared spectroscopy reveals the occurrence of intermolecular ionic interactions between the component ionomers in the blend. Zinc stearate acts as a plasticizer in the melt of the ionomeric polyblend, which exhibits a higher melt viscosity than the corresponding non-ionomeric polyblend. The blend can be reprocessed like a thermoplastic, with no drop in strength even after three extrusion cycles.