A poly(arylene ether)-polyolefin composition is prepared by melt-blending a poly(arylene ether) and a compatibilizer to form a first blend, and melt-blending the first blend and a polyolefin to form a second blend. The composition lacks an unhydrogenated block copolymer, a poly(alkenyl aromatic) resin, or both. Multiple mixing elements, low throughput, and high extruder rotations per minute may be used to achieve high energy mixing of the first and second blends. Compositions prepared by the method exhibit an improved balance of impact strength, stiffness, and heat resistance, as well as reduced variability of physical properties.