Liposomes have emerged as versatile drug delivery vehicles with the potential to improve the therapeutic efficacy and safety profiles of various drugs. These lipid-based vesicles offer advantages such as biocompatibility, versatility in encapsulating hydrophilic and hydrophobic drugs, and the ability to target specific tissues or cells. This review provides a detailed examination of the preparation and characterization methods of liposomes in novel drug delivery systems (NDDS). It covers various techniques for liposome preparation, including conventional methods and advanced approaches, as well as the characterization parameters essential for evaluating liposomal formulations. Additionally, recent advancements, challenges, and future directions in the field are discussed.