Magneto-rheological elastomers (MREs) are smart materials in which the inherent stiffness and damping properties can be changed by the influence of an external magnetic field. The magneto-rheological (MR) effect depends on the orientation characteristics of the dispersed magneto-responsible particles (MRPs) in the matrix. In this study, natural rubber (NR) and ethylene propylene diene rubber (EPDM) were blended and used as a matrix of an MRE. EPDM was pre-cured before blending with NR. The Mooney viscosity, curing characteristics, and mechanical properties were analyzed with various pre-curing conditions of EPDM and the NR/EPDM blend. The results show that excellent mechanical properties of the NR/EPDM blend-based MRE were obtained when the pre-curing time of EPDM was 60 min. The aging property of the NR-based MRE was improved by the introduction of pre-cured EPDM. Also, the anisotropic MRE showed a higher MR effect than that of the isotropic MRE.