In this study, medium-chain fatty acid (MCFA) liposomes were prepared by the film ultrasonic dispersion, modified ethanol injection, and reverse-phase evaporate methods. The results indicated that the liposomes prepared by the thin-film ultrasonic dispersion method had a high entrapment efficiency of 82.7% and a good distribution in size diameters. The MCFA liposomes were freeze-dried and the optimal preparation conditions of freeze-drying were as follows: The cryoprotectants were mannitol and sucrose (1:1 w/w), the hydrated medium was distilled water, and the freeze-drying time was 48 hours. Under these conditions, the freeze-dried MCFA liposomes had a perfect appearance, a small particle size, and high encapsulation efficiency. The mean diameters were 251.1 and 265.3 nm, and the encapsulation efficiencies were 80.5 and 79.2% for freshly prepared and reconstituted liposomes, respectively.