AbstractSummary: The thermodynamic equilibrium in a melt of homopolymer C mixed with clay modified by a diblock copolymer AB is considered in theory. It is assumed that mixing is carried out in two stages. At first, the diblock copolymer penetrates into the interlayers formed by long clay sheets. Then, the clay with adsorbed diblock copolymer chains is added to the homopolymer melt. It is shown that the first process is thermodynamically favorable only if the interlayer width exceeds some threshold value that depends mostly on the difference in the adsorption energy of units A and B. A spontaneous mixing at the second stage is possible only if the enthalpic interactions between homopolymer and copolymer units are not very unfavorable. If so, the formation of an intercalated state is expected for a homopolymer of length comparable to the copolymer length, while for a long homopolymer the anticipated equilibrium state is exfoliation. The spatial distribution of A, B, and C units across the interlayer has been studied for different parameters of the system. The most readily adsorbing units A occupy almost all clay surface. However, the layer of block A is considerably swelled by both B and C units. The mutual distribution of units B and C may vary from almost homogeneous to having rather sharp boundary depending on the value of the Flory‐Huggins parameter χBC. The formation of a pure homopolymer layer at the center of the interlayer indicates about a tendency to exfoliate.Interlayer profiles of the fractions of units A, B, and C, respectively.imageInterlayer profiles of the fractions of units A, B, and C, respectively.