Macromolecular engineering is defined as the total synthesis of tailor‐made macromolecules. The ultimate goal of this technology is to obtain a high degree of control over compositional and structural variables that affect the physical properties of macromolecules, including molecular weight, molecular weight distribution, end functionality, tacticity, stereochemistry, block sequence, and block topology, where the parameters of molecular characterization are well represented by the ensemble average. This review article summarizes the use of carbocationic polymerization for macromolecular engineering.