A branched copolymer containing a degradable polyperoxide linkage at a branching point was synthesized by the radical copolymerization of dienyl‐functionalized polystyrene and polyisoprene macromonomers with molecular oxygen. The ternary mixture of the branched copolymer and the macromonomers showed phase‐separated structure after annealing at 45 and 90 °C. The adjacent spacing of the phase‐separated structure was in the order of submicron to micrometer, which is larger than that of general microphase separated structures, due to the presence of homopolymers (macromonomers). Annealing at 110 °C induced thermal decomposition of the polyperoxide followed by in‐situ collapse and a drastic morphology change in the phase‐separated structure.
