A multifunctional nanocarrier for encapsulation and delivery of short interfering RNA (siRNA) has been realized using cationic fluorescent polymer core-shell nanoparticles. The nanocarrier has good biocompatibility and high transfection efficiency over the most popular transfection reagent, Lipofectamine 2000. Fluorescence resonance energy transfer within the nanocarrier provides a non-invasive and label-free method to track the intracellular release of siRNA.