The present invention relates to formulation of self-assembled core-shell polymeric system for enhanced oral bioavailability of hydrophobic traveler drug candidates and process for preparation thereof. The coreshell structured miceller formulation comprises hydrophobic traveler drug candidate as a core part surrounded by shell of a polymer cum surfadant pluronic Fl27. Characterization revealed that standardized miceller formulation of amphotericin B has particle size less than I 00 nm with 65% entrapment or drug payload. The oral bioavailability and phannacokinetic studies reported that miceller formulation provides hydrophobic traveler drug candidate amphotericin B in a controlled manner with enhanced oral bioavailability compared to pure drug suspension as well as marketed formulations.