In this work, the oxygen absorption properties of TiO2 catalyzed hydroxyl terminated polybutadiene (HTPB) blends with low density polyethylene (LDPE) was investigated at different compositions. Experimental results showed that a phase separation was happening in LDPE/HTPB blends and a hydrocarbon wax was added to overcome this undesirable phase separation between the components. SEM Morphological observations in combination with AFM images, demonstrated homogenously dispersed domains of HTPB in LDPE matrix. The thermal behavior of the blends was studied in the presence of compatibilizer. The oxygen absorption measurements of the blends illustrated that the oxidation of HTPB was accelerated in the presence of TiO2 photocatalyst and the oxygen absorption efficiency of the blends has increased with increasing the HTPB composition.