This Perspective describes the recent developments of polymerization-induced self-assembly of amphiphilic block copolymers based on controlled/living free-radical polymerization (CRP) in water. This method relies on the use of a hydrophilic living polymer precursor prepared via CRP that is extended with a hydrophobic second block in an aqueous environment. The process thus leads to amphiphilic block copolymers that self-assemble in situ into self-stabilized nano-objects in the frame of an emulsion or dispersion polymerization process. Depending on the nature and the structure of the so-formed copolymer, not only spherical particles can be achieved but also all morphologies that can be found in the phase diagram of an amphiphilic block copolymer in a selective solvent. This paper focuses mainly on aqueous emulsion or dispersion polymerization and gives an overview of the CRP techniques used, the general conditions, and the morphologies obtained.