Polymer-based drug carriers have revolutionized the pharmaceutical landscape, providing innovative approaches for efficient drug delivery. These advanced systems have significantly mitigated traditional challenges, offering new avenues for targeted and controlled drug release. This paper aims to explore polymers, focusing on their classification, properties, drug release mechanisms, and pharmaceutical applications while emphasizing recent advancements and future prospects in the field. Polymers can be classified based on their origin, biodegradability, and physical properties. Their unique characteristics, such as biocompatibility, flexibility, and ability to modify surface properties, make them ideal for drug delivery applications. The review delves into various drug release mechanisms employed by polymer-based systems, including diffusion, degradation, swelling, and stimuli-responsive release. These mechanisms ensure a controlled and sustained release of therapeutic agents, enhancing efficacy and reducing side effects. The pharmaceutical applications of polymer-based drug carriers are vast, encompassing targeted delivery to specific tissues or cells, sustained-release formulations, and the delivery of complex molecules like proteins and nucleic acids. Despite their advantages, polymer-based drug delivery systems face limitations, including potential toxicity, stability issues, and manufacturing challenges. Addressing these limitations through continued research and development is crucial for advancing the field. Recent advancements, such as smart polymers and nanotechnology integration, hold promise for overcoming these challenges and improving drug delivery efficiency. In conclusion, polymer-mediated drug delivery systems represent a significant leap forward in pharmaceutical technology. This review highlights the importance of polymers in modern medicine, their potential to revolutionize drug delivery, and the ongoing efforts to optimize their use in clinical applications.