Poly(vinyl chloride)/poly(epsilon-caprolactone)/poly(epsilon-caprolactone)-b-poly(d imethylsiloxane) [PVC/PCL/(PCL-b-PDMS)] blends were prepared by solvent casting from tetrahydrofuran. The content of PVC was kept constant (60 wt%); the PCL and PCL-b-PDMS contents were varied by replacing different amounts of PCL [0-20 wt% from the PVC/PCL (60/40) blend] with PCL-b-PDMS copolymer having different molecular weights of the PCL blocks. The thermal properties of prepared blends were investigated by differential scanning calorimetry in order to analyse miscibility (through glass transition temperature) and crystallinity. Differential scanning calorimetry analyses show that the PVC/PCL/PCL-b-PDMS blends are multi-phase materials which contain a PVC plasticized with PCL phase, a block copolymer PCL-b-PDMS phase (with crystalline and amorphous PCL and PDMS domains) and a PCL phase (preponderantly crystalline).