Thermoplastic Vulcanizates (TPVs) are itself a commercially high valued group of polymer blend. They render technological properties of conventional vulcanized elastomers with the ease of thermoplastic melt (re)processability. With ever growing market, TPVs have got plenty of applications among various fields. Here, the technological properties of these TPVs were tailored according to the purpose by interplaying physical parameters of polymers and advanced high energy electron technology. Electron irradiation, though a well-known technique for cross-linking in polymer industry, is only restricted to final product treatment. We take it to the next level by coupling a conventional internal mixer and a high energy electron accelerator. Polypropylene (PP) and natural rubber (NR) based TPVs have been prepared using this new reactive processing technology, named Electron Induced Reactive Processing (EIReP). Various electron treatment parameters were explored to maximize technological properties of TPVs. Effects of various polyfunctional monomers (PFM) were also studied. In an endeavor to develop a potential method for customization, deep insights of macroscopic and microscopic structure of these TPVs were presented with the help of various advanced scientific characterization techniques. Commonly faced difficulties like viscosity mismatch, cure rate mismatch, and incompatibility due to different molecular structures were furnished along with plausible solutions. Investigation of phase inversion from co-continuous matrix to thermoplastic matrix was dealt with special care as it helps to understand structure property correlation for all TPVs. To make the whole effort relevant, at the end of this thesis a summary of various technological properties has been given for the newly processed and commercially available TPVs.