Poly aniline (PANI) separately blended with polyvinyl alcohol (PVA) and Polyethylene oxide (PEO) has been prepared by solution cast method using N-Methyl Pyrrolidone (NMP) as common solvent. The structural changes of PANI-PVA and PANI-PEO films were studied by XRD and FTIR techniques. XRD and FTIR studies confirmed the complex formation in polymer blends. The change in the intensities in the polymer blend and appearance of new peaks in the FTIR spectra revealed the blending of poly aniline with PVA and PEO. The physical properties of these polymer blends were analyzed by tensile testing and scanning electron microscopy (SEM). SEM studies revealed the change in surface morphology of pure PANI with blending. From tensile testing, it was observed that PANI-PVA blend is the most promising composition for several industrial applications. The dc conductivity of these polymer blends has been determined in the temperature range 300K to 373K. The dc conductivity of pure PANI is found to be more than PANI-PVA and PANI-PEO blends. The change in the conductivity of this polymer blending at different temperatures depends on intra-chain and inters-chain mobility and are explained by two phase model.