Enhanced hole mobility is observed in MDMO PPV dispersed with PbS nanoparticles. Changes in the polymer film morphology upon dispersion of nanoparticles are investigated. Variation in the polymer interchain interaction is observed upon the addition of nanoparticles. Increase in polymer interchain interaction is due to tighter packing of polymer chains. Tunneling of carriers through nanoparticles and enhanced interchain interaction explains the mobility variations.