In the present study nanocomposite fibers and film scaffolds based on poly (2-hydroxy ethyl methacrylate) and microcrystalline cellulose were prepared by electrospinning method and solvent casting method, respectively. Paclitaxel (20ppm) was incorporated during the preparation of fibers and film to result in paclitaxel-incorporated nanocomposite film and fibers with an encapsulation efficiency of 63% and 72%, respectively. These prepared nanocomposite films and fibers were characterized and confirmed by FTIR, XRD and SEM analysis. The biocompatibility of the nanocomposite scaffolds were assessed using VERO cell lines. The in vitro release of paclitaxel from the nanocomposite fibers, and film was found to be 74 +/- 1.2% and 64 +/- 1.2%, respectively.