Studies were made to improve the stability of astaxanthin which has application limitations caused by light and thermal stability problems in spite of its strong anti-oxidant property. Astaxanthin was extracted from Haematococcus pluvialis with supercritical carbon dioxide. Liposomal encapsulation of astaxanthin to improve the stability was made with high pressure homogenizer. The narrow size distribution was observed with astaxanthin liposomes. Tests on light and thermal stabilities resulted that the liposormal encapsulation improved the stability of astaxanthin for cosmeceutical purposes.