Polymer-based materials with tunable nanoscale structures and associated microenvironments hold great promise as next-generation ion-exchange membranes (IEMs) for acid or alkaline fuel cells. Understanding the relationships between nanostructure, physical and chemical microenvironment, and ion-transport properties are critical to the rational design and development of IEMs. These matters are addressed here by discussing representative and important advances since 2011, with particular emphasis on aromatic-polymer-based nanostructured IEMs, which are broadly divided into nanostructured polymer membranes and nanostructured polymer-filler composite membranes. For each category of membrane, the core factors that influence the physical and chemical microenvironments of the ion nanochannels are summarized. In addition, a brief perspective on the possible future directions of nanostructured IEMs is presented.