A new reactive polyurethane/polyacrylate (PU/PA) blend was developed by mixing a core-shell polyacrylate latex containing keto groups in shell layer and a polyurethane dispersion incorporating multiple hydrazide groups which was synthesized by introducing the poly-hydrazide groups into the end of the vinyl-terminated polyurethane chains. Fourier transform infrared (FTIR) spectroscopy and gel permeation chromatography (GPC) results indicated that poly-hydrazide groups had been incorporated in the polyurethane chains. Transmission electron microscopy (TEM) micrograph revealed that polyacrylate particles had a clear core-shell structure. The results of FTIR, scanning electron microscopy (SEM), and differential scanning calorimetry (DSC) indicated that the crosslinking reaction between two polymer systems had happened and crosslinking structure could effectively improve the compatibility between PA and PU. Thermogravimetric analysis (TGA) and mechanical tests results suggested that crosslinking structure could enhance the thermal stability and mechanical properties of blends. The influence of the PA content and the n(ACOA)/n(ANHNH 2 ) ratio on the hardness, water resistance, solvent resistance, and gel fraction of the blend films were comprehensively studied. The optimal PA content and n(ACOA)/n(ANHNH 2 ) ratio was 30% and 1.5:1 in this experiment, respectively. V C 2016 Wiley Periodicals, Inc. J.Appl. Polym. Sci. 2017, 134, 44443.