Nanoparticle colloids of methoxy poly(ethylene glycol)-b-poly(D,L-lactide) (MPEG-b-PDLL) diblock copolymer were prepared by a modified spontaneous emulsification solvent diffusion method using acetone/ethanol as the mixture organic solvents. The MPEG-b-PDLL was synthesized by ring-opening polymerization of D,L-lactide using stannous octoate and MPEG with molecular weight of 5,000 g/mol as the initiating system. The MPEG-b-PDLL obtained was an amorphous polymer with molecular weight of 73,600 g/mol. Influences of acetone/ethanol (v/v) ratios and Tween 80 surfactant concentrations on characteristics of the colloidal nanoparticles were investigated and discussed. Light-scattering analysis showed that average diameters of the surfactant-free colloidal nanoparticles were in the range of 86–124 nm. The nanoparticle sizes decreased as the ethanol ratio increased. The Tween 80 did not show the significant effect on the nanoparticle sizes. Scanning electron micrographs of dried nanoparticles that demonstrated the aggregation of most particles suggested they were the soft nanoparticles. However, the dried nanoparticle morphology can be observed from scanning electron microscopy as having a spherical shape and smooth surfaces.