Self‐assembly of double hydrophilic block copolymers (DHBCs) in water is an emerging area of research. The self‐assembly process can be derived from aqueous two‐phase systems that are composed of hydrophilic homopolymers at elevated concentration. Consecutively, DHBCs form self‐assembled structures like micelles, vesicles, or particles at high concentrations in water and without the use of external triggers that would change solubility of individual blocks. Careful choice of the two hydrophilic blocks and design of the polymer structure allows formation of self‐assembled structures with high efficiency. The present contribution highlights recent research in the area of DHBC self‐assembly, including the polymer types employed and strategies for crosslinking of the self‐assembled structures. Moreover, an overview of aqueous multiphase systems and theoretical considerations of DHBC self‐assembly are presented, as well as an outlook regarding potential future applications in areas such as the biomedical field.