Amphiphilic poly(ethylene oxide)-poly(propylene oxide)-poly(ethylene oxide) copolymers, also known as poloxamers, have broad biomembrane activities. To illustrate the nature of these activities, (1)H Overhauser dynamic nuclear polarization NMR spectroscopy was employed to sensitively detect polymer-lipid membrane interactions through the modulation of local hydration dynamics in lipid membranes. Our study shows P188, the most hydrophilic poloxamer that is a known membrane sealant, weakly adsorbs on the membrane surface, yet effectively retards membrane hydration dynamics. Contrarily, P181, the most hydrophobic poloxamer that is a known membrane permeabilizer, initially embeds at lipid headgroups and enhances intrabilayer water diffusivity. Unprecedented resolution for differentiating weak surface adsorption versus translocation of polymers to membranes is obtained by probing local water diffusivity in lipid bilayer systems. Our results illustrate that the relative hydrophilic/hydrophobic ratio of the polymer dictates its functions. These findings gleaned from local hydration dynamics are well supported by a thermodynamics study presented in the accompanying paper (Wang, J.-Y.; Marks, J. M.; Lee, K. Y. C. Biomacromolecules, 2012, DOI: 10.1021/bm300847x).