Evolution and fractal character of the phase morphology of high impact polystyrene/poly(cis-butadiene) rubber (HIPS/PcBR) blends during melting and mixing were investigated using scanning electron microscopy (SEM). The characteristic length L was defined as the size of particles of the dispersed phase in blends. Different fractal dimensions, Df and Dm, were introduced to study the distribution width of phase dimensions in the dimensionless region and the uniformity of the spatial distribution of particles, respectively. The results showed that the average characteristic length Lm and Df increase as the volume fraction of the dispersed phase increases, when the volume fraction of the dispersed phase is lower than 50%. In other words, the size of particles increases and their distribution in the dimensionless region becomes more uniform. Meanwhile, the uniformity of the spatial distribution becomes more perfect as the volume fraction increases. At a certain composition, Lm decreases in the initial stage of the mixing and levels off in the late stage. In the initial stage, Df becomes large rapidly with the process of blending, which means that the distribution of L in the dimensionless region becomes more uniform. Meanwhile, the spatial distribution tends to be ideal rapidly in the early stage and fluctuates in a definite range in the late stage of the mixing.