The interaction of cyclodextrins (CDs) with L-α-dipalmitoyl phopsatidyl choline (DPPC), L-α-distearoyl phosphatidyl choline (DSPC), and L-α-dimyristoyl phosphatidyl choline (DMPC) unilamellar liposomes was investigated by the leakage of carboxylfluorescein (CF) entrapped in the inner aqueous phase of liposomes, at 25°C(DPPC and DSPC liposomes) and at 5°C (DMPC liposomes). The efficiency of CDs for CF leakage was remarkable in the order of heptakis (2, 6-di-O-methyl)-β-CD (DOM-β-CD)>α-CD>heptakis (2, 3, 6-tri-O-methy)-β-CD (TOM-β-CD) from DPPC liposomes, in the order of DOM-β-CD> TOM-β-CO&gt : α-CD from DSPC liposomes and in the order of α-CD>DOM-β-CD<TOM-β-CD from DMPC liposomes. The other CDs used in the present studies, β-CD, 2-hydroxylpropyl β-CD, and γ-CD scarcely induced the CF leakage from above the three liposomes.From the profiles of % CF leakage, together with measurements of differential scanning calorimetry, it was found that hydrophobic DOM-β-CD penetrates the matrix of the liposomes to interact with them as well as TOM-β-CD, and that less hydrophobic α-CD exists at the surface of the membrane to interact with the liposomes. Further, it was found that the interaction of CDs with liposomes changes depending not only on the length of fatty acid chain of phospholipid (condensation force and hydrophobicity) but also the hydrophobicity and the cavity size of CD.