Soybean lecithin liposomes composed phosphatidyl choline, phosphatidyl ethanolamine, phosphatidyl inositol and phosphatidic acid were prepared by using the previously developed supercritical reverse phase evaporation method. The effect of phospholipid composition on the formation of liposomes and physicochemical properties were examined by means of trapping efficiency measurements, transmission electron microscopy, dynamic light scattering and zeta potential measurements. The trapping efficiency of liposomes for D-(+)-glucose made of CNA-Ⅰ which contains approximately 95% phosphatidyl choline is higher than that of CNA-II and CNA-O which contain approximately 32% phosphatidyl choline. However there is no any difference between the trapping efficiency of liposomes for D-(+)-glucose made of CNA-II which has saturated hydrocarbons tails and that of liposomes made of CNA-O which has unsaturated hydrocarbon chains. The electron micrographs of liposomes made of CNA-II and CNA-O show small spherical liposomes with diameter of 0.1~0.25μm, while that of CNA-I shows large unilamellar liposomes with diameter of 0.2~1.2μm. These results clearly show that phospholipid structure of phosphatidylcholine allows an efficient preparation of large unilamellar liposomes and a high trapping efficiency for water soluble substances. Liposomes made of CNA-II and CNA-O remained well-dispersed for at least 14 days, while liposome suspension made of CNA-I separated in two phase at 14 days due to aggregation and fusion of liposomes. The dispersibility of liposomes made of CNA-I is lower than that of CNA-II and CNA-O due to the smallar zeta potential of CNA-I.