Objective(s): Development of an oral sustained-controlled release vehicle which, slowly releases the drug and maintains an effective drug concentration for a long time is aimed.Materials and Methods: A biodegradable magnetic polymeric drug delivery vehicle, using superparamagnetic iron oxide nanoparticles encapsulating by polyvinylpyrrolidone-block-polyethylene glycol-block-poly methacrylic acid (PVP-PEG-PMAA) was developed for targeted and controlled delivery of rosuvastatin. The carrier was characterized by TEM, XRD, and FT-IR techniques.Results: A typical carrier has about a 9 nm magnetite core, about 20 nm mean diameter with a narrow size distribution. The loading efficiency and pH-controlled release properties of the carrier were examined using a hydrophobic model drug rosuvastatin. Maximum loading efficiency of about 96% and a release amount of 90% of 12 hours were achieved at 37 oC in pH 1.2. While in pH 5.5 and 7.2, release amount of 25% and 37% were obtained respectively.Conclusion: The results indicate that the prepared pH-responsive polymer which covalently coated around magnetic nanoparticles is an efficient carrier with good loading capacity and controlled-release property.