The aim of the present work was to study the effect of multiwalled carbon nanotube(MWCNT) on the microphase separation kinetics and its influence on the morphology development of polystyrene-b-poly(ethylene-co-butylene)-b-polystyrene (SEBS) copolymer with cylindrical domains using dynamic rheological technique. The results of temperature sweep experiment showed small increase of microphase separation temperature which could be attributed to nucleating of nanoparticles. In order to evaluate the structural recovery of block copolymer and MWCNT filled samples, the samples were presheared for certain time and the storage modulus (G’) was monitored as a function of time after the cessation of shear flow. The addition of MWCNT was found to have a reducing effect on the structural recovery kinetics and this effect was much stronger above the rheological percolation of nanoparticles. It was demonstrated that the rheology can provide a valuable insight in to understanding the MWCNT induced morphological changes of this nanocomposites system. Keywords: Block copolymer, MWCNT, Rheology, Morphology development, Structural recovery