FDAPT (2-formyl-5-(4'-N,N-dimethylaminophenyOthiophene) is an efficient environment-sensitive fluorescent probe, which senses the alteration of its microenvironment with six different fluorescent parameters, namely, emission intensity, wavelength, fluorescence anisotropy, and corresponding three time-dependent parameters fluorescence lifetime, time-resolved emission spectrum, and anisotropy decay. In the present work, the nature of saccharide-induced dehydration of a F127 polymeric micelle is investigated in detail with FDAPT emission. Using a multiparametric fluorescence approach, it is observed that the saccharide molecules not only decrease the critical micellization temperature of the F127 solution but also strongly alter the physical properties inside the micellar structures. The local polarity and fluidity significantly decrease in the saccharide-induced micelle as compared to the normal F127 micelle. The probe solvation dynamics study reveals that the water content in the core as well as corona domain diminishes significantly in the saccharide-induced micelle as compared to the normal micelle. More precisely, dehydration occurs more in the core region than in the corona region. Also, the saccharide-induced dehydration alters the relative size of the core and corona regions. The extent of dehydration varies with different saccharide molecules. It is also found that the dehydration efficiency order is trisaccharide (raffinose) > disaccharide (sucrose) > monosaccharide (glucose and fructose).