Micelles made from linear polystyrene‐block‐polyisoprene (PS/PI) in decane are spherical. The differences in the structure of micelles made from linear and cyclic PS/PI were investigated using small‐angle X‐ray scattering at rest and under shear flow. The effect of shear revealed that micelles made from cyclic copolymer chains have an elongated shape, which was confirmed by transmission electron microscopy. The cyclization of diblock copolymer chains is thus a new method to control the micellar morphology.