Advances in block copolymer syntheses have led to polymeric micelles that may serve as nanoscopic drug carriers. For drug delivery, micelles were prepared from biocompatible and biodegradable block copolymers. The polymeric micelles display functional groups on their surfaces for attachment of pilot molecules. Researchers are establishing chemical as well as physical routes of loading drugs into polymeric micelles. Notably, polymeric micelles solubilize hydrophobic drugs suffering from poor water solubility. Recent studies suggest that polymeric micelles may have solid-like cores. Thus, they may remain intact for long durations under sink conditions and may also slowly release drugs. Mechanistically, polymeric micelles may act as drug carriers by circumventing host defenses, circulating for prolonged periods and extravasating from the vascular system, preferentially delivering drug to solid tumors.