Using ε-caprolactone (ε-CL) as hydrophobic material and poly(ethylene glycol) methyl ether methacrylate (PEGMA) as hydrophilic material, L-Lactide (LLA) was introduced as a hydrophilic and hydrophobic transition material, poly(ethylene glycol) methyl ether methacrylate-b-poly(L-lactide)-b-poly(ε-caprolactone)(PEGMA-b-PLLA-b-PCL) was prepared by Reversible Addition-Fragmentation Chain Transfer (RAFT) method with ultra-low critical micellar concentration (CMC). The structure, relative molecular weight (molecular weight) and particle size of the polymer were characterized by FTIR, 1HNMR, GPC, DLS and SEM. CMC was measured by interstitial-tension method, curcumin was loaded by solvent volatilization method, and the drug loading and encapsulation rate of the micelles were calculated by curcumin UV standard curve. Then, the drug release ability of drug-carrying micelles in different environments was further investigated. The results showed that the molecular weight of PEGMA-b-PLLA-b-PCL ranges from 1220 to 8782, the particle size ranges from 28 to 180 nm, and the lowest CMC is 0.62 μg/mL (pH=7.4). The drug loading and encapsulation rate of the micelle were high, reaching 12.6% and 78.0% (pH=7.4), and the drug release could be completed within 15 days. The maximum drug release was 45.53% at pH=5.