Summary: Due to a large difference in storage modulus below and above the glass transition temperature, a novel shape‐memory poly[(methyl methacrylate)‐co‐(N‐vinyl‐2‐pyrrolidone)]/poly(ethylene glycol) semi‐interpenetrating polymer networks structure was synthesized, which is stabilized by hydrogen‐bonding interactions. The recovery ratio of these polymers could reach 99%. In such a system the maximum molecular weight of PEG required for the semi‐IPNs formation reaches 1 000.