A β-cyclodextrin (β-CD)/aniline inclusion complex has been synthesized in aqueous solution and characterized by FT-IR and 1H-NMR spectroscopy, chemical analysis and thermogravimetric method. By elemental analysis and 1H-NMR spectroscopy a complex with stoichiometry 1:1.95 and 1:1.8 (β-CD/aniline) respectively, is found. The complexed aniline was polymerized by chemical oxidative polymerization using ammonium peroxydisulfate in water (pH = 7) and 1M HCl aqueous solution. In both cases, after an induction period, insoluble polyanilines (PANIs) are obtained, however, in water at pH = 7, a polypseudorotaxane architecture containing a β-CD molecule to ~14 aniline units has resulted. In acidic conditions, anilinium cation is highly hydrophilic and inclusion complex has a strong tendency to dissociate to free molecules and emeraldine salt of PANI, free of host molecules is synthesized.