Blends of poly(3-hydroxybutyrate-co-3-hydroxyvalerate) (PHBV) and polylactide (PLA) with different PHBV/PLA weight ratios (100/0, 75/25, 50/50, 25/75, 0/100) were prepared by melt compounding. To improve the miscibility between the two components of the blend, low amount of compatibilizing agent (5 wt%), obtained by grafting maleic anhydride onto PHBV, was used. When compared with the uncompatibilized blends, the compatibilizer presence induces a greater interfacial adhesion. The effect of Cloisite 30B (C30B) on the blend morphology and the blend properties was also investigated. The morphology of the different blends as well as the evolution of their material properties were discussed in terms of the nanoclay and compatibilizing agent contents. A synergistic effect of compatibilizer and C30B was highlighted leading to an improved miscibility of the two blend components. The resulting properties were correlated with the morphology observed for the different blends.