In medical science, sometimes two drugs with different solubilities are simultaneously required in combination to treat various diseases. Herein, a pH-responsive, copolymeric, antioxidant, biocompatible, and chemically crosslinked network gel is prepared to explore its capability as a matrix for controlled release of both hydrophobic [ibuprofen (IB)] and hydrophilic [tetracycline hydrochloride (TCH)] drugs, simultaneously. This three-dimensional β-CD-Meth-cl-(PHPMA-co-PAAc) network hydrogel is synthesized via two steps: (I) methacrylation of β-cyclodextrin and (II) grafting of poly(hydroxypropyl methacrylate) and poly(acrylic acid), followed by crosslinking of poly(ethylene glycol) diacrylate onto the backbone of methacrylated β-cyclodextrin (β-CD-Meth). The successful synthesis of the hydrogel is confirmed using several physiochemical characterizations. The β-CD-Meth-cl-(PHPMA-co-PAAc) hydrogel has an excellent network-like surface morphology. The potential pH-responsive high swelling behavior and excellent shrinking features suggest the reversible nature of the synthesized gel. Besides, rheological analyses affirm its excellent viscoelastic nature. This network gel is biodegradable and its non-cytotoxic nature toward human dermal fibroblast cells is demonstrated. Moreover, the dual drug release pattern from the copolymer under both in vitro and in vivo conditions portrays that this hydrogel has superior ability to be used as a controlled release matrix for both hydrophobic and hydrophilic drugs (TCH and IB) with varying solubilities concurrently.