The blending of styrene-acrylonitrile copolymer (SAN) and three different types of ethylene-propylene-diene terpolymer (EPDM) by reactive extrusion was studied and the free radical initiators: 2,5-dimethyl-2,5-di-(t-butylperoxy)hexane (Luperco 101 XL), 2,5-dimethyl-2,5-di-(t-butylperoxy)hexyne-3 (Luperco 130 XL), α,α′-di(t-butylperoxy)diisopropyl-benzene (Peroximon F40) and 2,2-azo-di-(2-acetoxy)propane (Luazo AP) were used. Besides, structural characteristics of the obtained blends, some rheological and mechanical properties were also established. The rheological behavior was determined using rheometer and corotating extruder. Measurements of mechanical properties included: tensile strength, impact strength and elongation at break have been made. Blends were separated on its structural components SAN, EPDM, graft (EPDM-g-SAN) and gel content, which were further characterized by solution viscosimetry and IR spectrophotometry. The obtained results elucidate the reactions that occur during extrusion process. The dominant grafting reaction was observed in blends prepared by using a Peroximon F40 as an initiator also showing outstanding mechanical and processing characteristics.