Studies of thermal and fire-resistant properties of the polyethylene/organically modified montmorillonite (PE/MMT) nanocomposites prepared by means of melt intercalation are discussed. The sets of the data acquired with the aid of non-isothermal TG experiments have been treated by the model kinetic analysis. The extra acceleration of thermal-oxidative degradation of the nanocomposite which has been observed at the first stage of the overall process has been analyzed and is explained by the catalytic effect of the clay nanoparticles. The results of cone calorimetric tests lead to the conclusion that char formation plays a key role in the mechanism of flame retardation for nanocomposites.