Poly (lactic acid) (PLA)/Poly (propylene carbonate) (PPC) blends were prepared by vane extruder which is a type of novel polymer processing extruder based on elongation force field. Scanning electron microscope (SEM), differential scanning calorimetry (DSC) and thermogravimetric (TG) were used respectively to analyze the compatibility, the crystallization and thermal stability properties of PLA/PPC blends affected by the different content of PPC. The results showed that with the increase of the PPC content, PLA glass transition temperature was reduced, and the glass transition temperature of PPC was increased, which indicated that PLA and PPC have partial compatibility. The cold crystallization temperature of PLA increased with the increase of the PPC content, which showed that PPC hindered the cold crystallization process of PLA. The addition of PPC had little impact on the melting process of PLA, and the melting temperature of PLA was almost kept the same value. Thermogravimetric analysis showed that the thermal stability of PPC was worse than that of PLA, the addition of PPC reduced the thermal stability of PLA.