Antibacterial packaging materials can reduce the microbial contamination of food surfaces. In this study, magnesium oxide (MgO) nanoparticles were synthesized and then coated with cetrimonium bromide (CTAB). CTAB-modified MgO (MgO@CTAB) was characterized by Fourier-transform infrared spectroscopy (FT-IR), X-ray diffraction (XRD), and thermogravimetric analysis. Then, different loadings of MgO@CTAB were mixed with poly(butylene adipate-co-terephthalate) (PBAT) by melt compounding. The results showed that the addition of MgO@CTAB deteriorated the thermal stability of PBAT due to MgO serving as a catalyst to promote the thermal degradation of PBAT. In addition, MgO@CTAB could serve as a nucleating agent to improve the crystallinity of PBAT. With the optimal 3 wt% of MgO@CTAB, the tensile strength of PBAT/MgO@CTAB increased from 26.66 to 29.90 MPa, with a slight enhancement in elongation at break. SEM observations and dynamical rheological measurements revealed that aggregation occurred when the content of MgO@CTAB exceeded 5 wt%. The presence of MgO@CTAB endowed PBAT with antibacterial properties. The bacterial inhibition zone increased with the increasing content of MgO@CTAB. In addition, MgO@CTAB had a better antibacterial efficiency against Gram-positive bacterial S. aureus than Gram-negative bacterial E. coli.