This work investigates the properties of different types of regenerated recycled rubbers (RR1and RR2) to produce thermoplastic elastomers (TPE) based on recycled high-density polyethylene (RHD) as the matrix. The higher regeneration degree of RR2(24%) compared to RR1(15%) was able to better restore the plasticity and processability of the ground tire rubber (GTR). So better entanglement between RR2free chains and the thermoplastic macromolecules was obtained inducing stronger interfacial interaction leading to higher elongation at break (159%) and impact strength (342 J/m) of the blends filled with 80 wt.% RR2. To further improve the adhesion and achieve rubber-like properties, ethylene vinyl acetate (EVA) was used as a compatibilizer. The microstructure analysis showed that uniform dispersion of the particles and ground tire rubber encapsulation by EVA increased the resistance to crack propagation and failure of the compatibilized blends. The swelling, mechanical and physical properties of the ternary blends (RHD/GTR/EVA) showed that EVA improved the interfacial interactions between GTR and RHD which was confirmed by enhanced elongation at break (203%) and impact strength (379 J/m) by the addition of 10 wt.% EVA.