The starch-filled styrene–butadiene rubber (SBR) was prepared using a laboratory-sized two-roll mill. Starch was modified by yeast fermentation for 1 day before it was blended with SBR. The hydrophilicity of SBR was enhanced by grafting with modified starch (MST) by utilizing tetramethyl thiuram disulfide as a catalyst. The effect of modified corn starch loading on morphological, mechanical, and rheological properties of vulcanized SBR blends was investigated. Scanning electron microscope result revealed that the adhesion between the MST and SBR was weak, and the starch pulled out due to poor interfacial bonding. The lowest ultimate tensile strength, elongation at break, and tensile modulus of the SBR-g-MST were found in the sample containing 150 phr of starch. The variation of the percentage elongation of neat rubber and MST/rubber composites was 91.34%. The significant decrease in cure times was observed with the loading of MST in all blends up to 100 phr starch, while no significant change in scorch time was observed. The maximum torque, minimum torque, and cross-linking density increased as the starch loading increases up to 100 phr MST. The water absorption by the composite increases with immersion time and MST loading, although the rate of absorption decreases with increased time. The current product could be especially advantageous in agricultural and horticultural applications as a good controlled fertilizer release and for water retention.