Indocyanine green (ICG) is a Federal Drug Administration-approved near-infrared imaging agent susceptible to chemical degradation, nonspecific binding to blood proteins, and rapid clearance from the body. In this study, we describe the encapsulation of ICG within polymeric micelles formed from poly(styrene-alt-maleic anhydride)-block-poly(styrene) (PSMA-b-PSTY) diblock copolymers to stabilize ICG for applications in near-infrared diagnostic imaging. In aqueous solution, the diblock copolymers self-assemble to form highly stable micelles approximately 55 nm in diameter with a critical micelle concentration (CMC) of ~1 mg/L. Hydrophobic ICG salts readily partition into the PSTY core of these micelles with high efficiency, and produce no change in micelle morphology or CMC. Once loaded in the micelle core, ICG is protected from aqueous and thermal degradation, with no significant decrease in fluorescence emission over 14 days at room temperature and retaining 63% of its original emission at 37°C. Free ICG does not release rapidly from the micelle core, with only 11% release over 24 h. The ICG-loaded micelles do not exhibit significant cell toxicity. This system has the potential to greatly improve near-infrared imaging in breast cancer detection by increasing the stability of ICG for formulation/administration, and by providing a means to target ICG to tumor tissue.