Liposomes are considered prime candidates to improve the immunogenicity of both antigens with hydrophobic anchor sequences and soluble, nonmembrane proteins or synthetic peptides. During the 20 years since liposomes were first demonstrated to have adjuvant potential, studies have shown that variation in liposomal size, lipid composition, surface charge, membrane fluidity, lipid-protein composition, anchor molecules, and fusogenicity can significantly influence results. In addition, antigen location (e.g., whether it is adsorbed or covalently coupled to the liposome surface or encapsulated in liposomal aqueous compartments) may also be important. Analysis of these variables as well as a comparison of the various techniques used to ensure the efficacy, stability, homogeneity, and safety of liposomal vaccine have been discussed.