The distribution of carbon black (CB) in uncured blends of natural rubber (NR) and polybutadiene (PB) can be quantified using DSC. The crystallization temperature of PB containing CB, measured during cooling from the melt, increases with the CB loading. This phenomenon was used to calculate the CB content in PB and conversely in NR in NR/PB/CB mixtures. Two different blends containing N550 CB were studied. A deeper analysis was performed over the entire composition range of NR/PB blends filled with N234 CB. Two different trends were highlighted depending on composition. Below 50 wt% of NR in the elastomer phase, the crystallization temperature of PB is higher than that of pure PB indicating that a part of the CB is dispersed in PB. Above 50 wt% of NR, the crystallization temperature of PB is lower than that of pure PB, indicating that the whole CB is in the NR phase and that fractionated crystallization of PB simultaneously occurs. Both phenomena are consistent as the dispersed phase morphology is favored by a large increase of the matrix viscosity by the filler. For both CBs, the results indicate that CB has larger affinity for NR than for PB. This tendency was confirmed by transmission electron microscopy.