Here we report the unprecedented preparation of nanoparticles with near-infrared (NIR) emission enhanced by host-guest complexation between a water-soluble pillar[5]arene (WP5) and a cyanostilbene derivative (1) in water. Amphiphilic 1 self-assembles in water to form nanoribbons with relatively weak NIR emission at low concentrations. However, after addition of equimolar WP5, these nanoribbons transform into nanoparticles with stronger NIR emission due to the formation of a supramolecular amphiphile and host-guest complexation-enhanced aggregation. These nanoparticles show pH responsiveness, and collapse after treatment with acid. More importantly, these nanoparticles can be used in living cell imaging.