Stable aqueous dispersions of nanoparticles were prepared by polyelectrolyte complex formation between well‐defined poly(ethylene glycol)‐block‐poly(2‐acrylamido‐2‐methyl‐1‐propane sodium sulfonate) and poly(ethylene glycol)‐block‐poly2‐(dimethylamino)ethyl methacrylate] diblock copolymers. Controlled synthesis of the copolymers was achieved by water‐based atom transfer radical polymerization (ATRP). The nanoparticles were characterized by a quite narrow and monomodal size distribution as evidenced by dynamic light scattering (DLS) and confirmed by atomic force microscopy (AFM) after solution casting and freeze‐drying.