The well-defined poly (epsilon-caprolactone) (PCL)/poly(vinyl pyrrolidone) (PVP) diblock copolymers were synthesized through combining radical polymerization of VP and the controlled coordination-insertion ring-opening polymerization of CL using an aluminum alkoxide macroinitiator formed from the equimolar reaction of triethylaluminum with hydroxy-terminated PVP (PVP-OH). The molecular characterization of PCL/PVP diblock copolymers was confirmed through H-1 NMR spectroscopy and GPC analysis. Polymeric micelles composed of PCL as a hydrophobic core and PVP as a hydrophilic shell were prepared by a diafiltration method. The micellar properties such as sizes, shapes, and critical micelle concentrations (CMC) were investigated with a dynamic light scattering (DLS) spectrometer, transmission electron microscope (TEM) and spectrofluorimeter. The sizes of micelles ranged from 30 to 80 nm in average size. The novel micelles formed from the well-defined PCL/PVP diblock copolymers seem to be feasible as novel promising carriers in biomedical and pharmaceutical applications. (C) 2004 Elsevier Ltd. All rights reserved.