<p>Retinoblastoma is very challenging because it can cause blindness and has strong metastatic, life-threatening potential. Prompt treatments transferred to the tumor site are impaired by several barriers, such as anatomical, physiological, biochemical, and other complications. Liposomes represent the most extensively utilized class of nanocarriers for delivering both hydrophobic and hydrophilic therapeutic and diagnostic agents, owing to their exceptional biocompatibility, biodegradability, and minimal immunogenicity. Usual liposomes have weak performance in crossing ocular barriers and delivering their cargo. Engineered liposomes offer controlled distribution and versatile surface modification capabilities, enabling targeted and sustained release of drugs. Over time, liposomal formulations have evolved through four distinct generations, transitioning from conventional vesicles to sophisticated, stimulus-responsive, and actively targeted systems. Several liposome-based drug delivery platforms have received clinical approval for the treatment of cancer and infectious diseases, with numerous others currently undergoing evaluation in advanced clinical trials. This review provides a comprehensive overview of various liposome types, their classifications, lipid compositions, cellular uptake mechanisms, and clinical translational aspects specific to retinoblastoma therapy. It further addresses existing limitations and explores promising avenues for advancing liposome-mediated drug delivery in the treatment of ocular cancer.</p> Graphical abstract <p></p>