Lactide-Caprolactone copolymer (LACL) was added to a Polylactide/Poly(ε-caprolactone) (PLA/PCL) blend as a compatibilizer through solution mixing and the casting method. The melt crystallization behavior and crystalline morphology of PLA, PLA/PCL, and PLA/PCL/LACL were investigated using differential scanning calorimeter (DSC) and polarized optical microscopy (POM), respectively. The temperature of the shortest crystallization time for the samples was observed at 105 °C. The overall isothermal melt crystallization kinetics of the three samples were further studied using the Avrami theory. Neat PLA showed a higher half-time of crystallization than that of the PLA/PCL and PLA/PCL/LACL blends, whereas the half-time of crystallization of PLA/PCL and PLA/PCL/LACL showed no significant difference. The addition of PCL decreased the spherulite size of crystallized PLA, and the nuclei density in the PLA/PCL/LACL blend was much higher than that of the PLA and PLA/PCL samples, indicating that LACL had a compatibilization effect on the immiscible PLA/PCL blend, thereby promoting the nucleation of PLA. The spherulites in the PLA/PCL and PLA/PCL/LACL blend exhibited a smeared and rough morphology, which can be attributed to the fact that PCL molecules migrated to the PLA spherulitic surface during the crystallization of PLA.