Previous attempts to use polylactide (PLA) latex particles and nanofibrillated cellulose (NFC) in papermaking processing have been limited to low NFC content. In the present study, a bionanocomposite material was successfully produced using a PLA latex and NFC. The components were mixed using a wet mixing method and bionanocomposite films were made by filtration followed by hot pressing. In composite materials, the dispersion of the reinforcing component in the matrix is critical for the material properties. Biopolymers such as PLA are non-polar and soluble only in organic solvents; NFC is, however, highly hydrophilic. By utilizing latex, i.e., an aqueous dispersion of biopolymer micro-particles, wet mixing is possible and the problem of aggregation of the hydrophilic nanocellulose in organic solvent is avoided. The properties of the resulting NFC/PLA latex bionanocomposite films were analyzed. Thorough blending resulted in good dispersion of the reinforcing component within the matrix. Adding increasing amounts of NFC improved the Young's modulus, tensile strength, and strain at break of the bionanocomposite material. The increase in the tensile properties was linear with increasing NFC content as a result of the good dispersion. The NFC also improved the thermal stability of the bionanocomposite material.