The present study was aimed at synthesizing and characterizing star copolymers of β-cyclodextrin and exploring their application as nanocarriers. The copolymers of β-cyclodextrin and polypropylene oxide were synthesized by using ring opening polymerization, catalyzed by base, under high temperature and pressure. The polymers of different molecular weight were synthesized by increasing chain length of polypropylene oxide at optimized temperature, pressure and concentration of catalyst. The structure of synthesized polymer was confirmed by IR and NMR. Molecular weight and molecular weight distribution was evaluated by hydroxyl number and gel permeation chromatography respectively. Amphiphilic nature of the polymers was evaluated by determining the solubility in water and different organic solvents. For the evaluation of polymer as a nanocarrier, Ibuprofen was selected as model drug. Loading efficiency and release of Ibuprofen from the complex were also investigated. It was observed that, with increase in the molecular weight of the polymers, loading capacity was increased. © 2010 Springer Science+Business Media B.V.