Aligned poly(L-lactide) (PLLA)/poly(epsilon-caprolactone) (PCL)/poly(ethylene glycol)(PEG) fibrous membranes were fabricated by electrospinning. Their morphology, thermal stability, mechanical properties, hydrophilic properties and in vitro degradation behaviors were investigated. With increasing the content of PEG, the PLLA/PCL/PEG blend fibers become thinner due to the increment in solution conductivity and decrease in solution viscosity. The thermal stability, hydrophilic properties, the tensile strength and elongation-at-break of PLLA/PCL/PEG blend fibrous membranes were improved, but porosity were decreased with the content of PEG changing from 10 wt% to 30 wt%. Furthermore, the incorporation of PEG enhanced the degradation of the PLLA/PCL/PEG fibrous membranes due to the better hydrophilic properties. In addition, the PLLA/PCL/PEG fibrous membranes have no toxic effect on proliferation of adipose-derived stem cells.