Starch-lipid complexes were prepared using lotus seed starch (LS) and glycerin monostearate (GMS) via a high pressure homogenization (HPH) process, and the effect of HPH on the physicochemical properties of LS-GMS complexes was investigated. The results of Fourier transform infrared spectroscopy and complex index analysis showed that LS-GMS complexes were formed at 40MPa by HPH and the complex index increased with the increase of homogenization pressure. Scanning electron microscopy displayed LS-GMS complexes present more nest-shape structure with increasing homogenization pressure. X-ray diffraction and differential scanning calorimetry results revealed that V-type crystalline polymorph was formed between LS and GMS, with higher homogenization pressure producing an increasingly stable complex. LS-GMS complex inhibited starch granules swelling, solubility and pasting development, which further reduced peak and breakdown viscosity. During storage, LS-GMS complexes prepared by 70-100MPa had higher Avrami exponent values and lower recrystallization rates compared with native starch, which suggested a lower retrogradation trendency.