The equimolar mixed micellar system of Lecithin-Tyloxapol has been explored using physicochemical and spectroscopic measurements. Thermodynamic parameters have been computed for the prepared mixed micellar system. Interaction parameter, β, suggests synergistic interactions in the mixed systems. This has been further examined for the solubilization of anti-tuberculosis drugs (ATDs). In addition, the entrapment efficiency of the formulation has been evaluated for three ATDs. Micropolarity measurements indicate location of all the three drugs inside the mixed micellar systems. Fourier transform infrared spectroscopic and differential scanning calorimetric studies infer that the drugs are in harmony with the excipients since no visible interactions between the drugs and mixed micelles have been detected. In vitro release analyses exhibit sustained release of drugs from the formulation. Comparison of regression coefficients of different kinetic models reveal that release of ATDs from mixed micellar system follows first order exponential decay.