The synthesis and characterization of novel thermoplastic elastomers consisting of multiple polystyrene‐b‐polyisobutylene (PSt‐b‐PIB) arms emanating from cyclosiloxane cores is described. The synthesis involved the sequential living cationic block copolymerization of styrene (St) and isobutylene (IB), followed by quantitative allylic end‐functionalization of the living PSt‐b‐PIB+ to produce PSt‐b‐PIBCH2 CHCH2 prearms, and finally linking by hydrosilation of these prearms with SiH‐containing cyclosiloxanes (e.g., 2,4,6,8,10,12‐hexamethylcyclohexasiloxane, D H6). Two types of star‐blocks, namely primary and higher‐order star‐blocks, were prepared: Primary star‐blocks containing 3–9 PSt‐b‐PIB arms were obtained by using various cyclosiloxanes (D H6 to D H12) and a close to exact stoichiometry between the SiH and allyl groups, [SiH]/[CC] ∼ 1, in the essential absence of moisture ([H2O] ∼ 100 ppm). Higher‐order star‐blocks consisting of 13–24 PSt‐b‐PIB arms radiating from complex coupled cyclosiloxanes were prepared by the use of SiH/allyl ratios significantly larger than unity ([SiH]/[CC] = 2–3) in the presence of controlled amounts of moisture ([H2O] ∼ 600 ppm). Reaction conditions (temperature, concentration, stoichiometry, solvent nature, catalyst concentration, etc.) for efficient syntheses have been developed. The products were characterized by 200 and 600 MHz 1H‐NMR spectroscopy and triple‐detector (RI, UV, LLS) GPC. The microstructure of the condensed cores in the higher‐order star‐blocks was studied by 2D‐NMR (HMQC) spectroscopy, and the number of cyclosiloxane rings in the cores (i.e., the content (wt %) of cores in the star‐blocks) was determined. © 1998 John Wiley & Sons, Inc. J Polym Sci A: Polym Chem 36: 2997–3012, 1998