<p>Liposomes, as one of the most established nanocarriers, have been widely employed in lung cancer therapy, which remains the leading cause of cancer-related mortality worldwide. However, the current landscape of liposomal formulations and the principles guiding their rational design remain insufficiently defined. This review provides a comprehensive analysis of how liposomal delivery systems have been engineered to address biological and therapeutic challenges in lung cancer. We analyze liposome-based delivery of chemotherapeutic agents, including formulations that have advanced to clinical trials, with particular emphasis on strategies developed to overcome multidrug resistance (MDR). Surface engineering and functionalization strategies that enable active targeting and enhance therapeutic efficacy are also reviewed. Liposomal platforms for immunotherapy are examined, alongside their application in delivering phytochemicals, nucleic acid therapeutics, and photo-enabled modalities, including photothermal and photodynamic therapies, which are discussed in dedicated sections. Cutting-edge innovations, such as biomimetic liposomes, stimuli-responsive smart systems, and theranostic designs integrating diagnostic and therapeutic functions, are highlighted. Finally, pulmonary delivery of anticancer agents is evaluated, focusing on formulation parameters informed by current liposome-based evidence and broader lessons from nanomedicine. By providing mechanistic insights, design principles, and translational perspectives, this review offers a unified framework for liposome-based platforms in lung cancer therapy.</p> Graphical abstract <p></p>