The formation and morphological characteristics of crew-cut aggregates from blends of polystyrene-b-poly(acrylic acid) diblock copolymer and polystyrene homopolymer in solution were studied by static light scattering, transmission electron microscopy and size exclusion chromatography. The crew-cut aggregates, consisting of a polystyrene core and a poly(acrylic acid) corona, were prepared by direct dissolution of the polymer blends in a selective solvent mixture consisting of 93 wt % dimethylformamide and 7 wt % water. It is found that the aggregation behavior depends strongly on the relative volume fractions of the block copolymer and homopolymer in the blends. This is a result of the difference in solubility between the copolymer and the homopolymer in solution which, in turn, influences their miscibility and mutual solubility and consequently the morphology of the formed crew-cut aggregates. Specifically, when the homopolymer fraction is low, it is mainly dissolved in the cores of the crew-cut aggregates formed by the block copolymer. When the homopolymer fraction exceeds its solubility limit in the copolymer micelles, aggregates of another type are formed which contain a major fraction of the homopolymer. These aggregates are usually much larger than the primary micelles and have an internal structure due to the formation of reverse micelles from the dissolved block copolymer chains. The importance of thermodynamic vs, kinetic aspects during the formation of the crew-cut aggregates is also discussed.