Liposomes are artificial vesicles encapsulating the drug moiety. The structural adaptability of liposomes has been employed to make them drug carriers for smart delivery systems, improving bioavailability, stability, target delivery, etc. However, conventional liposomes have some drawbacks, like limited payload, shorter in vivo circulatory lifespan, unregulated releasing properties, rapid clearance from bloodstream etc. Polymeric modification of the liposomes addressed and effectively overcome all the drawbacks of conventional liposomes. Polymeric materials offers indefinite structural diversity thus a substantial portion of the materials has been employed for drug-targeting methods and controlled drug release. Conjugation of liposomes and polymers develops a hybrid vesicle with intermediary physicochemical and stimulus responsive properties (pH, temperature, etc.). The reliability of liposomes with respect to pH, nature of drug moiety, enzyme, and immune response can be strengthened by polymers. Polymer modified liposomes also enhances pharmacokinetic and pharmacodynamic profile of the drug moiety. The forms of polymer, cross-linking agents, interaction, and bonding used during polymerization of liposomes have an impact on their activity. According to the extensive review of the literature that is accessible in the different data sources, research in this field is proactively involved in the synthesis of newer polymeric materials, and the supramolecular structuring of the different chemicals.