Abstract: Water-soluble, cell-permeable nanomicelles containing ceramides and a steviol glycoside, such as rubusoside, are disclosed. The ceramide-steviol glycoside complex has high water solubility, and can be used for treating cancers with p53 mutations. Preliminary results have shown that the Cer nanomicelles are effective in restoring p53 protein expression, and that they are functionally dominant over p53 mutants. The novel nanomicelles restore a wild-type phenotype, and have very low toxicity to noncancerous cells. The novel Cer nanomicelles may be used in treating p53-associated cancers.