Within the current report the first results of the upcoming multi-stage research cycle on the development of high-performance environmentally friendly PLA/PBAT blend based composite materials are presented. Development and basic characterization of PLA/PBAT blends at various wt.-to-wt. ratios of the base polymeric components is performed. Rheological properties of PLA and PBAT have been investigated by means of rotational viscometry to define the optimal blending parameters. PLA/PBAT blends have been obtained by using twin-screw extrusion. Structural features of the obtained polymer blend compositions have been revealed by means of Fourier transform infrared spectroscopy. Crystallization behavior of the obtained polymer blend compositions have been characterized by means of differential scanning calorimetry. Thermal stability of the obtained polymer blend compositions has been studied by using thermogravimetric analysis. Mechanical behavior of the obtained polymer blend compositions has been studied by means of both quasistatic (in respects to tensile and flexural properties) and dynamic tests (impact resistance).