The ruthenium-based photoredox catalyst, Ru(bpy)3Cl2, was employed to activate reversible addition-fragmentation chain transfer (RAFT) dispersion polymerization via a photoinduced electron transfer (PET) process under visible light (λ = 460 nm, 0.7 mW/cm2). Poly(oligo(ethylene glycol) methyl ether methacrylate) was chain extended with benzyl methacrylate to afford in situ self-assembled polymeric nanoparticles with various morphologies. The effect of different intrinsic reaction parameters, such as catalyst concentration, total solids content, and cosolvent addition was investigated with respect to the formation of different nanoparticle morphologies, including spherical micelles, worm-like micelles, and vesicles. Importantly, highly pure worm-like micelles were readily isolated due to the in situ formation of highly viscous gels. Finally, "ON/OFF" control over the dispersion polymerization was demonstrated by online Fourier transform near-infrared (FTNIR) spectroscopy, allowing for temporal control over the nanoparticle morphology.