We have prepared triblock copolymers of poly(phenylene oxide) (PPO) and polysulphone (PSF) of the form PPO-PSF-PPO in order to assess their intrinsic mechanical properties and their potential as interfacial compatibilizers in polystyrene/PSF blends. For sufficiently long polysulphone block lengths, we observed microphase separation both in the triblock copolymers and in their blends with polystyrene. The triblock polymers, nevertheless, showed very similar microdeformation behavior to the PPO homopolymer, suggesting the phase separation to play a minor role. On the other hand, the compatibility of the poly(phenylene oxide) blocks and polystyrene ensured a high degree of interphase adhesion in blends containing both polystyrene and free PSF, even for relatively high homopolymer molecular weights.