After a brief history that positions polymerization‐induced self‐assembly (PISA) in the field of polymer chemistry, this Review will cover the fundamentals of the PISA mechanism. Furthermore, this Review will also give an overview of some of the features and limitations of RAFT‐mediated PISA in terms of the choice of the components involved, the nature of the nanoobjects that can be obtained and how the syntheses can be controlled, as well as some potential applications. A matter of form: Polymerization‐induced self‐assembly (PISA) is based on the use of controlled/living polymerization (CLP) and consists of extending solvophilic living chains with a solvophobic segment to generate block copolymers that self‐assemble to achieve various morphologies in situ. This Review covers PISA mediated by reversible addition‐fragmentation chain transfer (RAFT), one of the most popular radical CLP methods.