Since the 1940s, generalized cytotoxic therapy has been a valuable tool in cancer treatment. Over the years, there's been a significant increase in developing potential cytotoxic drugs. However, little progress has been made in enhancing patients' quality of life. The therapeutic index is limited due to the drug's poor solubility and lack of selectivity. Various carriers have been explored for drug delivery to enhance efficacy. Yet, there's a gap for a versatile delivery system that can adjust to specific drug and application requirements. Here, a multifaceted drug delivery platform based on a genetically engineered nature‐inspired polymer, elastin‐like polypeptide (ELP) is introduced. This technology enables the customization of the polymeric vehicle's physicochemical characteristics to suit the needs of a specific drug and application. The review highlights ELP's advantages in cancer targeting, such as site‐specificity, controlled release, biocompatibility, and extended plasma circulation. For the first time, ELP‐based drug delivery into passive and active targeting for better comprehension of its adaptability is classified. Moreover, numerous opportunities for loading different types of drugs onto the polymer are outlined. Finally, the polymer's efficacy in delivery across multiple cancer types, underscoring the wide spectrum of ELP‐based cancer drug delivery is precisely described.