Magnetocaloric and transport properties are reported for novel poly- and nanocrystalline double composite manganites, La_0.8Sr_0.2MnO₃/La_0.7Ca_0.3MnO₃, prepared by the sol-gel method. Magnetic field dependence of magnetic entropy change is found to be stronger for the nano- than the polycrystalline composite. The remarkable broadening of the temperature interval, where the magnetocaloric effect occurs in poly- and nanocrystalline composites, causes the relative cooling power (RCP(S)) of the nanocrystalline composite to be reduced by only 10% compared to the Sr based polycrystalline phase. The RCP(S) of the polycrystalline composite becomes remarkably enhanced. The low temperature magnetoresistance is enhanced by 5% for the nanostructured composite