Drug‐surfactant interaction increases the solubility of poorly water‐soluble drugs and design better pharmaceutical formulations. The degree of interaction of nepafenac (NP), a nonsteroidal anti‐inflammatory prodrug was studied with ionic surfactant molecules such as cationic surfactant cetrytrimethyl ammonium bromide (CTAB) and anionic surfactant sodium dodecyl sulphate (SDS) in an aqueous medium at room temperature. NP made mixed micelles with CTAB and SDS. To investigate the influence of interactions, conductivity measurements, UV–visible spectroscopy, and fluorescence measurements were recorded. The quantification of NP–surfactant interactions was investigated using various mathematical models. The CMC values determined from conductivity measurements of pure surfactants were 0.96 mM for CTAB and 8.14 mM for SDS near to their literature values. At different mole fractions of NP in UV measurements, binding constants from lnKb were found 0.025 and 0.123 and number of NP molecules per micelles (n) 67, 46 for CTAB and SDS, respectively. The mixed micelles of NP–CTAB and NP–SDS revealed that CTAB has a strong interaction with NP than SDS. The Benesi–Hildebrand relationship, Stern–Volmer and Kawamura replica for the partition coefficient were used to confirm the findings. We are confident that the host–guest interaction mechanism can contribute to a better understanding of molecular recognition in the phospholipid membrane model.