With the emergence of cost effective processes for preparation of Graphene Oxide (GO), new routes have become feasible for functionalization of GO and its application as tailored made compatibilizers for polymer blends. The present study deals with oxidation of commercial stacked graphene to various degrees (5-50% oxygen content) followed by silanization in aqueous media to yield controlled grafting of graphene possessing a wide range of electrical conductivities. The resultant functionalized graphenes were subsequently used as compatibilizers for polyamide (PA)/polypropylene (PP) blends. The experimental program was accompanied by thermodynamic and dynamic analysis for investigating the localization of the functionalized GO moieties. Experimental results and the associated analysis indicated that the functionalized GO can be tailored to control its localization in the hydrophilic (PA) or the hydrophobic (PP) blend's phases or even at the interfacial region, with significant consequences as far as mechanical and electrical properties.