In order to design a π-conjugated polymer film with tunable optical properties by thermally triggered activation of energy transfer after processing, two monodisperse phenylene ethynylene based oligomers with different optical properties were synthesized and attached to aliphatic polymers as π-conjugated side chains. Subsequently, the exchange of the side chain chromophores between the prepared donor and acceptor graft polymers in the solid state based on a reversible Diels–Alder reaction was studied in detail. The resulting donor–acceptor graft copolymer exhibits intra polymer energy transfer upon excitation of the donor moiety. The photophysical properties of the original and exchanged graft copolymers were investigated by means of absorption and emission spectroscopy. This novel concept opens the possibility for optical tuning of π-conjugated polymer films after processing as well as applications as thermally triggered sensor systems.