The formation of block copolymer micelles with and without hydrophobic nanoparticles is simulated using dissipative particle dynamics. We use the model developed by Spaeth et al. [ Spaeth , J. R. , Kevrekidis , I. G. , and Panagiotopoulos , A. Z. J. Chem. Phys. 2011 , 134 ( (16) ) 164902 ], and drive micelle formation by adjusting the interaction parameters linearly over time to represent a rapid change from organic solvent to water. For different concentrations of added nanoparticles, we determine characteristic times for micelle formation and coagulation, and characterize micelles with respect to size, polydispersity, and nanoparticle loading. Four block copolymers with different numbers of hydrophobic and hydrophilic polymer beads, are examined. We find that increasing the number of hydrophobic beads on the polymer decreases the micelle formation time and lowers polydispersity in the final micelle distribution. Adding more nanoparticles to the simulation has a negligible effect on micelle formation and coagulation times, and monotonically increases the polydispersity of the micelles for a given polymer system. The presence of relatively stable free polymer in one system decreases the amount of polymer encapsulating the nanoparticles, and results in an increase in polydispersity and the number of nanoparticles per micelle for that system, especially at high nanoparticle concentration. Longer polymers lead to micelles with a more uniform nanoparticle loading.