The poly(lactic acid)(PLA)/aliphatic poly(carbonate)(PPC)/polyethylene glycol-polyhedral oligomeric silsesquioxane (PEG-POSS) composites were prepared by reactive melting extrusion. The effect of various components on the mechanical, thermal, rheological, and hydrophilic properties of composites was systematically studied by means of various characterization methods. The results showed that, with the increase of PPC content, the toughness of composites improves significantly, while the strength decreases. Reactive extrusion and adding PEG-POSS could enhance the compatibility and adjust the crystallization of composites effectively. When the proportion of PPC and PEG-POSS in composites is 20-40wt% and 4wt%, respectively, the composites own the best comprehensive performance.