Combining functions of multidrug co-delivery and multistep release in biocompatible membranes is an oncoming requirement for improving therapeutic process. In this paper, a kind of polymer micelle-embedded core/shell nanofibrous membranes was prepared by a simple and effective technology of coaxial electrospinning. The nanofibers were composed of hydrophobic polycaprolactone (PCL) shell layer and hydrophilic polyvinyl pyrrolidone (PVP) core in which more than 40 % (w/w) amphiphilic block copolymer mPECT micelles (mPECT Ms) were embedded. Two bioactive drugs, lincomycin hydrochloride (LH) as the anti-inflammatory drug and Vitamin E (VE) as the fibrinolysis drug, were effectively loaded in the PVP core of the fibers and mPECT Ms, respectively. The SEM and TEM figures showed the smooth core/shell nanofibers with interiorly even-distributed micelles were fabricated. The XRD patterns illustrated that drugs distributed amorphously in the composite mats without crystallization. The in vitro degradation test also gave evidence to the time consistency between the degradation time of this material and potential occurrence time of adhesion. Furthermore, the in vitro release profiles indicated that both drugs were controlled to release sustainably for more than 15 days, and multistep release pattern of the early fast release of LH companied by the slow VE release was achieved. Therefore, the polymer micelle-embedded core/shell nanofibrous membranes could provide a new strategy for therapeutic application to realize multidrug co-delivery and multistep release.