Time-resolved small-angle X-ray scattering (SAXS) measurements were performed to study in-situ formation of palladium (Pd) nanoparticles in block copolymer microdomains. The nanoparticles were reduced in a reaction medium containing a fixed composition of polyisoprene-block-poly(2-vinylpyridine) (PI-b-P2VP), palladium acetylacetonate, Pd(acac)2, and benzyl alcohol as a solvent and a reducing agent. The polymer concentration is high enough so that it forms swollen ordered lamellae before reduction. The reduction was induced by a rapid temperature jump, and the polymer concentration was kept constant in a sealed sample cell. It was clearly elucidated that the formation of Pd nanoparticles occurred in the templates of the swollen lamellar microdomains. By fitting the theoretical scattered intensity for spherical particles to the observed SAXS profiles, we analyzed time evolution of mean radius, standard deviation of radius, and total volume of Pd nanoparticles in concentrated PI-b-P2VP solutions after T-jump...