The conformations of the A-ring and the 17-acetyl groups of progesterone were examined within liposomes, which were prepared from L-alpha-phosphatidylcholine in the presence or absence of cholesterol in the buffer, using qualitative nuclear magnetic resonance and circular dichroism of the progesterone spectra in the wavelength regions of 260-360 nm. The preferred conformational assignments, in the rotational conformations of the 17-acetyl group and invertible conformations of the cyclohexenone of progesterone were discussed on the basis of the elliptical strength of the Cotton effect and an energy estimation of the preferred conformers. Energetically unstable conformers of the acetyl group and alpha,beta-unsaturated cyclohexenone of progesterone remarkably increased with an increase in the concentration of the liposomes. The liposomes containing 10% cholesterol were similar to the effect of the liposomes lacking cholesterol on the 17-acetyl group and the alpha,beta-unsaturated cyclohexenone but those containing 50% cholesterol showed an increase in the number of energetically stable conformers of the alpha,beta-unsaturated cyclohexenone. The nuclear magnetic resonance signal from liposomes together with the progesterone indicated the existence of the progesterone adjacent to a double bond or ester moiety in the lipid molecule. Therefore, it was apparent that the liposomes and the cholesterol within the liposomes regulated the conformational populations of both the cyclohexone and acetyl groups of the progesterone molecule.