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The poly (acrylonitrile-butadiene-styrene) (ABS) resins were synthesized via bulk polymerization method using nickel catalyzed high-cis polybutadiene rubber (Ni-9004), lithium catalyzed low-cis polybutadiene rubber (Li-700A) and their composite rubbers as modifiers. The influences of reaction time and content of composite rubber on the polymerization reaction, grafting parameters and microstructures of ABS were investigated. And the morphologies and mechanical properties of resins under different incorporation ratio of composite rubbers were also researched. It is shown that the grafting degree of Ni-9004 gradually increases and its grafting efficiency and volume fraction of rubber phase gradually decrease with the reaction time. Besides, an obvious phase inversion occurs in the polymerization process and the final ABS resin presents a typical "core-shell" structure. And its morphology can be distinctly improved when combined with Li-700A. Furthermore, the lower amount of composite rubber is beneficial to grafting and occlusion, which shows a positive reinforcement value; an augmented particle size and a negative value are obtained while composite rubber amount increases. Performance measurements show that the toughening effect of Li-700A can be significantly enhanced by incorporating Ni-9004. When its incorporation content reaches 75%, the notched Izod impact strength of ABS resin is improved by at least 150%, while there is no loss of the tensile strength. [ABSTRACT FROM AUTHOR]