Photoinitiated reversible addition‐fragmentation chain transfer (RAFT) dispersion polymerization of 2‐hydroxypropyl methacrylate is conducted in water at low temperature using thermoresponsive copolymers of 2‐(2‐methoxyethoxy) ethyl methacrylate and oligo(ethylene glycol) methacrylate (Mn = 475 g mol−1) as the macro‐RAFT agent. Kinetic studies confirm that quantitative monomer conversion is achieved within 15 min of visible‐light irradiation (405 nm, 0.5 mW cm−2), and good control is maintained during the polymerization. The polymerization can be temporally controlled by a simple “ON/OFF” switch of the light source. Finally, thermoresponsive diblock copolymer nano‐objects with a diverse set of complex morphologies (spheres, worms, and vesicles) are prepared using this particular formulation.