Liposomes are used as carriers for targeted drug delivery by the intravenous route. The aim of our study was to prepare lomustine loaded liposomes (CCNU-Lips) and evaluate its physicochemical properties and the tissue targeting after intravenous (i.v.) injection. CCNU-Lips were prepared by film dispersion method. In vitro drug release was investigated in phosphate-buffered saline (pH 6.8) at 37℃. The concentrations of CCNU in selected organs were determined using reversed-phase high-performance liquid chromatography (HPLC) following i.v. administration of CCNU-Lips and inclusion complex solution of CCNU with hydroxypropyl-β-cyclodextrin (CCNU-Sol). CCNU-Lips had an average diameter of (189.8±28.5) nm with a zeta potential of (-19.13±0.12) mV and the in vitro drug release was monitored for up to 3 d, and the release behavior was in accordance with Weibull-equation. The CCNU-Lips exhibited a longer elimination half life (t1/2β) in vivo compared with CCNU-Sol after i.v. injection to New Zealand rabbits. The encapsulation of lomustine in liposomes also changed its biodistribution in mice. CCNU-Lips showed significant brain targeting with AUC, Te and Re of the brain all showing obvious elevation. These results indicated that CCNU-Lips were promising passive targeting formulation to the brain.