The effects of drawing temperature and draw down ratio on thermal properties, crystallinity and orientation of poly(trimethylene terephthalate)/poly(ethylene terephthalate) (PTT/PET) 100/0 ,90/10, and 80/20 blends have been investigated. The crystallinity and glass transition temperature increased while cold crystallization temperature and cold enthalpy decreased due to the development of orientation and stress induced crystallization by the cord drawing. Introducing PET to PTT decreased the crystallinity of PTT. However, it enhanced the orientation of PTT/PET blends drawn at below the glass transition temperature of PET. This lead to the increase of tensile modulus and tensile strength of PTT/PET blends. The shrinkage increased with increasing orientation, which might be minimized by the development of crystalline morphology of PTT in the course of cold drawing.