Nanostructured zinc oxide (ZnO) and magnesium oxide (MgO) are synthesized by sol-gel method and characterized by X-ray diffraction and field-emission scanning electron microscopy. The curing characteristics, mechanical, thermal and aging resistance properties of polychloroprene rubber (CR) composites in presence of both nanostructured and conventional cure activators in different combinations are determined. The CR composite containing 2 phr (parts per hundred parts of rubber) nano-ZnO along with 2 phr nano-MgO shows an excellent improvement in the curing characteristics as well as in the values of modulus and tensile strength in comparison to CR composite containing conventional cure activator system, i.e., 5 phr conventional ZnO along with 4 phr conventional MgO. Morphological analysis confirms the uniform distribution of nanosized cure activators within the CR matrix in comparison to conventional cure activators. Thermogravimetric analysis reveals that rapid degradation region for CR composite starts at higher temperature in presence of nanostructured cure activator system in comparison to conventional cure activator system. This study reveals that only 2 phr nano-ZnO in combination with 2 phr nano-MgO can successfully replace conventional cure activator system containing 5 phr conventional ZnO along with 4 phr conventional MgO with the enhancement of cure, mechanical and thermal properties of CR composites.