Abstract Widely used chemotherapeutic agent 5‐fluorouracil (5‐Fu) exhibits adverse effects by damaging the normal cells. Controlled delivery and release of such antitumor drugs is essential for better treatment. Herein, a low molecular weight peptide‐drug conjugate for the photo‐controlled delivery of 5‐Fu is demonstrated. 5‐Fu is covalently attached with a short peptide through a photo‐cleavable linker. With a careful choice of the peptide sequence, the peptide‐drug conjugate was able to form a hydrogel within a narrow pH window (pH 6.0 ‐ 8.0). MTT assay of the peptide‐drug conjugate in HeLa cells inferred almost no cytotoxicity up to a high concentration of 110 μg/mL. The gelator prodrug releases 5‐Fu in a controlled, does‐dependent manner under irradiation. The characterizations and controlled release of the drug were investigated using various analytical techniques including FTIR, HPLC and UV‐visible spectroscopy whereas, morphology of the gel was studied by FESEM. The gelation behaviour and rheology of the conjugate was also studied in details. Such covalently peptide‐conjugated 5‐Fu gel could be useful for effective delivery of antitumor agent.