A series of supramolecular inclusion complex (IC) films were formed by threading α‐cyclodextrin (α‐CD) molecules over poly(ethylene glycol) (PEG), according to the designed ratio of α‐CD/PEG. Because of containing α‐CD‐PEG inclusion crystallites as physical crosslinks and uncovered PEG crystallites as “switch phase”, the resulting supramolecular α‐CD‐PEG partial ICs displayed a shape memory effect. The properties of the materials were investigated by 1H‐NMR, X‐ray diffraction (XRD), differential scanning calorimetry (DSC), dynamic mechanical analysis (DMA), and swelling measurement. It was found that the casting temperature, solvent, and the ratio of α‐CD‐PEG inclusion/PEG had great influence on the formation and properties of α‐CD‐PEG partial ICs. The modes of complexes on different conditions were proposed. © 2010 Wiley Periodicals, Inc. J Polym Sci Part B: Polym Phys 48: 951–957, 2010