In this study, zinc phthalocyanine (ZnPc) was encapsulated in liposomes (Phosphatidylcholine (PC) from soybean lecithin (95% phosphatidylcholine, 5% lysophosphatidylcholine), and phosphatidic acid) obtained by a reverse-phase evaporation method. Liposomes were characterized and cytotoxicity and phototoxicity assays were performed using mouse embryo fibroblast (NIH3T3) and human breast cancer (MDAMB231), respectively. ZnPc was successfully encapsulated in liposomes ([Formula: see text]80%), presenting single populations with sizes of [Formula: see text]300 nm and negative zeta potential (-35 to -40 mV). The release profile at different pH presented a biphasic release controlled by the Fickian diffusion mechanism. The cytotoxicity assays carried out on NIH3T3 cells showed that the liposomes provided good protection for ZnPc, and did not affect the viability of non-cancerous cells. In contrast, free ZnPc significantly reduced non-cancerous cell viability at higher concentrations. ZnPc loaded in liposomes ensured a higher phototoxic effect on the MDAMB231 cells at all concentrations tested when exposed to low light dose.