In this study, poly(3-hydroxybutyrate-co-3-hydroxyvalerate) (PHBV)/graphene oxide (GO) nanocomposite films containing various content of GO were prepared using solution casting method. The effect of GO content on Young’s modulus and dispersion of GO in PHBV matrix was investigated. Also, the thermomechanical properties, oxygen transmission rates and hydrolytic degradation of PHBV/GO nanocomposite films were studied. The addition of GO into PHBV improves the Young’s modulus and decreases thermal expansion coefficient. The improvement can be mainly attributed to good dispersion of GO and interfacial interactions between PHBV and GO. Furthermore, PHBV/GO nanocomposite films show good oxygen barrier properties. PHBV/GO nanocomposites show lower hydrolytic degradation rates with increasing content of GO.