The effect of the molecular weight and acrylonitrile (AN) content of the styrene-acrylonitrile copolymer (SAN) on the morphology, mechanical properties, and rheological properties of acrylonitrile-butadiene-styrene terpolymer/poly(methyl methacrylate) (ABS)/PMMA (60/40 by weight) blends were studied. When the AN content of matrix SAN (32%) was close to that of graft SAN (30%), rubber particles existed separately. However, with matrix SAN having 35% AN, rubber particles showed tendency to agglomerate each other. With increasing molecular weight of matrix SAN, impact strength, ultimate elongation, and abrasion resistance of the blend generally increased. Yield strength increased with molecular weight at a constant AN content of matrix SAN, and it decreased with the decrease of AN content in spite of the increasing molecular weight of SAN. Melt properties, rather than the morphological and mechanical properties, were more sensitive to the AN content, rather than the molecular weight of matrix SAN.