Aggregational behaviour of micelles sodium dodecyl sulphate (SDS and Triton X-100, TX-100 both in pure and mixed form) and micelle like aggregates such as polymer-surfactant system [polymer poly(vinyl pyrrolidone), PVP]-SDS have been studied by using fluorescence characteristics of a newly synthesized probe. The critical micelle concentration (CMC) values determined at various surfactant compositions are lower than the ideal values indicating a synergistic effect. The value of the interaction parameter for the surfactant mixture has been determined which agrees well with the value calculated according to molecular thermodynamic theory. The total aggregation number of surfactant in mixed micelle shows a drastic variation in the SDS mole fraction range 0 < or = alpha1 < or = 0.3 and beyond the range it remains practically constant. Molar-based partition coefficients for the dye between the micellar and aqueous phase have been determined and a non-linear variation is obtained for the mixed micellar system. Variations of micro-polarity in the mixed micellar region have been investigated as a function of surfactant composition and results have been explained in terms of a suitable realistic model.