Polymer-based nanodiscs are valuable tools in biomedical research that can offer a detergent-free solubilization of membrane proteins maintaining their native lipid environment. Here, we introduce a novel ~1.6 kDa SMA-based polymer with styrene:maleic acid moieties that can form nanodiscs containing a planar lipid bilayer which are useful to reconstitute membrane proteins for structural and functional studies. The physicochemical properties and the mechanism of formation of polymer-based nanodiscs are characterized by light scattering, NMR, FT-IR, and TEM imaging experiments. A remarkable feature is that nanodiscs of different sizes, from nanometer to sub micrometer diameter, can be produced only by varying the lipid-to-polymer ratio. As demonstrated, the small size nanodiscs (up to ~30 nm diameter) can be used for solution NMR studies whereas the magnetic-alignment of macro-nanodiscs (diameter of >~40 nm) can be exploited for solid-state NMR studies on membrane proteins.