Lipids are a broad group of naturally occurring water insoluble compounds include triacylglycerol or neutral fat, waxes, cholesterol, phospholipids, glycolipids, fat soluble vitamins such as vitamins A, D, E and K. Lipids also encompass molecules such as fatty acids and their derivatives. Lipids are classified into three major groups: simple lipid, complex lipid and derived lipid. Lipoproteins are macromolecular complexes that transport insoluble lipids in the blood. The different types of lipoprotein include: chylomicron, very low density lipoprotein, low density lipoprotein, high density lipoprotein. Cerebrosides and gangliosides are glycolipids which contain various sugar components. Eicosanoids e.g. prostaglandins, thromboxane’s and leukotriene’s are extremely potent hormone like molecules derived from polyunsaturated fatty acid arachidonic acid. Lipids have many important biological functions. Triacylglycerol are the major fuel store in the body. Other lipids including phospholipids, glycolipids and cholesterol are crucial constituents of biological membranes. Surface active phospholipid such as lecithin is involved in maintenance of alveolar integrity in the lungs. Liposomes are artificially formed phospholipid vesicles.