A study of the shape memory effect on extruded polylactic acid (PLA) and polycaprolactone (PCL) blends, which were transformed into films and movable components of articulated specimens by hot pressing and 3D printing, respectively, is presented. After characterizing their chemical structure by FTIR spectroscopy and their wettability, the thermal properties and mechanical response of the blends were evaluated and compared with those of neat PLA and PCL. The blends exhibited very good interfacial adhesion between the phases, even though they are immiscible polymers. The thermoresponsive shape memory effects of neat PLA, neat PCL and PLA/PCL blends with different compositions (90/30, 70/30 and 50/50 w/w%) were evaluated considering three consecutive heating–cooling cycles. Comparison of the initial permanent state geometry with the geometries achieved after each heating–cooling cycle for both films and 3D printed specimens, evidenced that the 70/30 w/w% blend exhibited the best behavior. Thus, the blends obtained with such composition showed the maximum reversibility between the temporary and permanent states (i.e. highest shape recovery capability) and shape fixing of such two states.