Thermo-sensitive poly(N-isoproplacrylamide)(m)-block-hydroxyl-terminated polybutadiene-block-poly(N-isoproplacrylamide)(m) (PNIPAM(m)-b-HTPB-b-PNIPAM(m), m=1 or 2) block copolymers, AB(4) four-armed star multiblock and linear triblock copolymers, were synthesized by ATRP with HTPB as central blocks, and characterization was performed by H-1 NMR, Fourier transform infrared, and size exclusion chromatography. The multiblock copolymers could spontaneously assemble into more regular spherical core-shell nanoscale micelles than the linear triblock copolymer. The physicochemical properties were detected by a surface tension, nanoparticle analyzer, transmission electron microscope (TEM), dynamic light scattering, and UV-vis measurements. The multiblock copolymer micelles had lower critical micelle concentration than the linear counterpart, TEM size from 100 to 120nm, and the hydrodynamic diameters below 150nm. The micelles exhibited thermo-dependent size change, with low critical solution temperature of about 33-35 degrees C. The characteristic parameters were affected by the composition ratios, length of PNIPAM blocks, and molecular architectures. The camptothecin release demonstrated that the drug release was thermo-responsive, accompanied by the temperature-induced structural changes of the micelles. MTT assays were performed to evaluate the biocompatibility or cytotoxicity of the prepared copolymer micelles.