We describe a facile, one‐pot, two‐step polymerization towards synthesizing block co‐polymers bearing reactive isocyanate functional groups. Reversible addition fragmentation chain transfer (RAFT) polymerization is used to mediate the co‐polymerization of isocyanate‐bearing monomers dimethyl meta‐isopropenyl benzyl isocyanate (TMI) and 2‐isocyanatoethyl methacrylate (ICEMA) with styrene and methyl methacrylate (MMA), respectively. ICEMA was incorporated into the polymer at a faster rate than TMI and its unhindered isocyanate group was found to be more reactive than the hindered isocyanate group of TMI. Both the TMI/styrene and the MMA/ICEMA systems maintain the reactivity of the isocyanate functionality, which was exploited by attaching representative hydroxyl‐bearing small and large molecules as well as solid substrates to the block co‐polymers. Thus, we demonstrate the versatility of the block co‐polymer system as a basis for forming branched polymers or as grafts for a solid substrate. © 2011 Wiley Periodicals, Inc. J Polym Sci Part A: Polym Chem, 2011