Polyether ether ketone (PEEK) is a semi-crystalline thermoplastic polymer having excellent mechanical and thermal properties. Exposure of this polymer to aliphatic and aromatic solvents can lead to degradation or swelling of the polymeric material. The present work described the plasticization and stability analysis of semi-crystalline PEEK under different aromatic and aliphatic solvent environment. A variety of solvents (acetone, benzene, benzyl alcohol, chloroform, methanol, and toluene), based on their Hildebrand’s Solubility Parameter, were chosen for investigation. The physico-chemical characteristics of virgin and treated polymeric samples were investigated using Gas Chromatography–Mass Spectrometry (GC–MS), Thermogravimetric Analysis (TGA), Differential Scanning Calorimetry (DSC), and Fourier Transform Infrared Spectroscopy (FTIR) techniques. The results indicated that the solvent exposure did not significantly affect the thermal behavior and chemical structure of the polymer. However, it seems that certain components of the polymer were leached into the solvent phase as revealed by the GC–MS analysis. The present study identified PEEK as a potentially suitable polymer for the applications where high resistance to aliphatic and aromatic solvents is needed.