Abstract: The liposomes containing both water-soluble vitamin c and fat-soluble salicylic acid were prepared with soya lecithin by multiple emulsion and ultrasound method. Factors including the proportion of components in liposomes，the pH of vitamin c solution, emulsifying temperature and coating on the encapsulation efficiency and stability of liposomes were studied. The results show that the conditions for preparation of liposomes were m(soya lecithin)∶m(cholesterol)∶m(salicylic acid)∶m(vitamin c) =4∶1∶0.75∶1, pH of vitamin c solution at 5,emulsifying temperature of 25℃and 45℃for the first and second step respectively. In this case, the entrapment efficiency of the prepared liposomes were 48.2% and 55.4%. The coating could enhance the stability of liposomes.