Novel α,ω‐functionalized amphiphilic lipopolymers are prepared that are composed of a proximal lipid moiety and a hydrophilic poly(2‐oxazoline)‐based (POx) polymer chain. The synthesis begins from bifunctional lipoinitiators, which are asymmetrically protected as tert.butyldiphenylsilyl (TBDPS) ethers, followed by cationic living ring‐opening polymerization of 2‐oxazolines in a one‐pot multistep reaction. This results in polymers with defined terminal end groups and narrow molar mass distributions. All protective groups involved can be readily cleaved in a single step reaction keeping the structure of the polymer intact, giving access to (lipo)polymers with a variety of defined identical or chemical orthogonal α,ω‐functionalities. The synthetic strategy is a versatile tool for the preparation of defined polymer–drug or polymer–protein conjugates or asymmetric functionalized model lipid membranes for the quantitative study of membrane‐associated phenomena such as transmembrane transport and cell adhesion/recognition.