In this study, folate-conjugated polymer micelles were synthesized by mixing folate-poly(ethylene glycol)-distearoylphosphatidylethanolamine (FA-PEG-DSPE) and methoxy-poly(ethylene glycol)-distearoylphosphatidylethanolamine (MPEG-DSPE) to encapsulate anticancer agent 9-nitro-camptothecin (9-NC). Formulations were characterized by critical micellization concentration (CMC) values of copolymers, micelle particle size, zeta-potential, encapsulation efficiency and drug loading efficiency. The molar ratio of FA-PEG-DSPE and MPEG-DSPE was chosen to avoid the macrophages and at the same time express highly active targeting ability. The targeting ability of folate-conjugated polymer micelles was investigated against three kinds of tumor cell lines (HeLa, SGC7901 and BXPC3). The drug efficacy in vitro of folate-conjugated polymer micelles was evaluated by using the methylthiazoletetrazolium (MTT) method. The results showed that the CMC values of MPEG-DSPE and FA-PEG-DSPE were 0.97 x 10(-5)M and 1.0 x 10(-5)M, respectively. The average size of folate-conjugated micelle was about 21-24 nm and the micelle size distribution of both empty and drug-loaded micelles were rather narrow. The encapsulation efficiency and drug loading efficiency were 97.6% and 4.64%, respectively. The drug-loaded micelles were stable during storage at 4 degrees C for 4 weeks. Micelles maintain the similar size and did not show 9-NC leakage. The best molar ratio of FA-PEG-DSPE and MPEG-DSPE in folate-conjugated micelles was 1:100 which can effectively solubilize 9-NC, avoid the macrophages in vitro and has a higher anti-tumor activity than both drug-loaded MPEG-DSPE micelles and free anticancer agents. The folate-conjugated polymer micelle which can avoid the macrophages is a kind of promising carrier for poorly soluble anticancer agents via folate receptor (FR) that mediated endocytosis to target tumor cells.