One of the early achievements of researchers to develop Nano drug delivery systems were successfully manifested in the form of liposomes. Since the time of its invention in 1965, many technological advancements have been witnessed in Liposomal drug delivery systems, which are a field of study. The capacity to change a drug's biodistribution profile, liposomes have been reported to enhance and improve the therapeutic index of different drugs. Drugs of various categories like antineoplastic, antifungal agents, and Anti-inflammatory agents properties and therapy genes have been extensively studied for efficient delivery using liposomes. US-FDA-approved products like Doxil®, Ambisome®, DepoDur™, etc have been seen to play an important part in the treating of a large number of patients across the world. This review aims to provide updated information about various approved and marketed liposome formulations and their role in the modern-day health care systems.