Previously we have reported results of a preliminary study on the micellization of phosphatidylcholine vesicles by apomyoglobin at pH 4 (J. W. Lee and H. Kim, 1988, FEBS Lett. 241, 181-184). The micellization study has been extended here to investigate the effect of the lipid to protein ratio, temperature, size of vesicles, and pH. The pH-dependent study indicated that micellization occurs when the protein assumes either a molten globular or random coil structure. Time-dependent hydrophobic labeling by 3-(trifluoromethyl)-3-(m-[125I]iodophenyl)-diazirine showed that there is an initial increase in contact between the protein and hydrophobic acyl chain of lipid followed by a decrease in the interaction. This may be explained as the initial stage of vesicle aggregation which is subsequently superseded by the fragmentation. These reactions are discussed in term of protein unfolding at low pH.