A nonaqueous organic‐in‐fluorous emulsion applicable for polymerization using water‐sensitive catalysts is presented. With statistical biphasic copolymers based on poly(4‐hydroxystyrene) containing fluorinated and nonfluorinated alkyl side chains, emulsions of hydrocarbons dispersed in perfluorocarbons were stabilized. The addition of metallocenes, activated by methylalumoxane (MAO), enabled the polymerization of olefins inside this highly hydrophobic system. High molecular weight polyolefin nanoparticles ($\overline M _{\rm n}$ up to 450 000) of polyethylene and poly(propylene) were synthesized without supporting the catalyst and without reactor fouling. In this diffusion‐controlled process, the sizes of the particles were controlled by the reaction time and the ratio of the emulsifier to solvents.