The pH-responsive amphiphilic poly(epsilon-caprolactone)-block-poly(acrylic acid) (PCL-b-PAA) copolymer was prepared by selective hydrolysis of one novel poly(epsilon-caprolactone)-block-poly(methoxymethyl acrylate) (PCL-b-PMOMA) block copolymer, which was synthesized by combining ring-opening polymerization (ROP) of epsilon-caprolactone (epsilon-CL) and atom transfer radical polymerization (ATRP) of methoxymethyl acrylate (MOMA). Selective hydrolysis of the hemiketal ester groups on the PMOMA block gave 100% deprotection without the cleavage of the PCL block. The self-assembly behavior of PCL-b-PAA was investigated by fluorescence spectroscopy, DLS and TEM. The spherical micelles were formed with the hydrophobic PCL block as the core and the hydrophilic PAA as the shell by a co-solvent evaporation method. Moreover, the size and size distribution of the micelles varied with pH value and ionic strength in aqueous solution. The cytotoxicity of the PCL-b-PAA was lower, which was confirmed by MTT assay.