Cancer, being a major global health concern, accounts for nearly ten million deaths every year. Traditional treatment strategies, including chemotherapy, surgery and radiotherapy, remain the primary therapeutic measures but are associated with severe adverse effects, low selectivity and incomplete tumour eradication. Nanotechnology-based methods have potential to emerge as safer and more effective therapies for cancer. Nanoparticles offer targeted delivery of chemotherapeutic agents along with improved pharmacokinetics and reduced toxicity. Among the various types of nanocarriers, micelles have gained prominence due to their amphiphilic structure and their ability to encapsulate hydrophobic drugs with an enhanced solubility and circulation time. Their small size further facilitates tumour accumulation via the enhanced permeability and retention effect. In addition to this, stimuli-responsive micelles further allow for precise, site-specific drug release triggered by tumour-specific cues such as pH, redox conditions, enzymes or temperature. Despite these advantages, challenges such as premature drug leakage persist, necessitating improved micelle design for greater in vivo stability. Functionalization with targeting ligands and incorporation of environmentally sensitive components can further enhance their therapeutic potential. Overall, micelle-based nanocarriers represent a promising strategy for safer and more effective cancer treatment.