The present invention provides for thermosensitive hydrogel for cancer therapeutic and methods of preparation thereof. The invention represents an advancement in the field of cancer therapeutics and provides for a polymer-protein based thermosensitive hydrogel comprising polyvinyl alcohol, poloxamer 407 and bovine serum albumin. The thermosensitive hydrogel can be optionally be enriched with one or more additional component such as photothermal agents, photosensitizers, drugs and dyes. The invention also provides for a method of preparing the thermosensitive hydrogels. The hydrogels of the present invention are inexpensive, thermosensitive, has ability to effectuate sustained release of drugs and can be used for targeted delivery and dual-modality treatment.