Optimal control theory is applied to a batch polymerization reactor for PMMA to calculate the near‐optimal temperature and initiator policies that are required to produce a polymer with a desired final conversion, and desired number average and weight average molecular weights. The two‐point boundary value problem that results from the application of the Pontryagin minimum principle to the mathematical model of the reactor is solved by the discretization control method. According to this, the total reaction time is divided into N equal subintervals. It is assumed that the control variables remain constant in each interval and the Hamiltonian is minimized by a first‐order gradient technique. It is shown that the introduction of the “target set” concept, which is well suited to industrial practice, simplifies the numerical solution of the TPBV problem. Results of the simulations demonstrate the potential gains possible from the application of the optimal control theory to the batch polymerization of PMMA.