Liposomes is considered the leading technique to be focused on to solve the problems that most of the drugs face today like dose control, sustain release, drug toxicity, gastric intolerance of drugs, in-stabilities of drug. Besides having some disadvantages, liposomes can serve as an advantageous method of drug delivery if efforts would be made in developing it accordingly. In the present article, all the research efforts in preparing and stabilizing the liposomes have been reviewed. A Brief note on the advancements, clinical, therapeutical and miscellaneous applications along with examples have been given. The current clinical trial information on the liposomes, their marketed formulations have also been added and can be studied in detail following the references cited in the article.