A new ionomer, containing both carboxylated and sufonated groups, was obtained by sulfonating a maleated styrene-ethylene/butylene-styrene (m-SEBS) block copolymer, followed by its neutralization with zinc acetate. Dielectric thermal analyses show that the incorporation of ionic groups in m-SEBS is responsible for the occurrence of the high temperature ionic relaxation in addition to the relaxations of the base polymer. Formation of the ionomer causes a significant improvement in stress-strain properties compared to the corresponding base polymer.