Conventional liposomes still face many challenges associated with the poor physical and chemical stability, considerable loss of encapsulated cargo, lack of stimulus responsiveness, and rapid elimination from blood circulation. Integration of versatile functional biopolymers has emerged as an attractive strategy to overcome the limitation of usage of liposomes. This review comprehensively summarizes the most recent studies (2015-2020) and their challenges aiming at the exploration of biopolymer-liposome hybrid systems, including surface-modified liposomes, biopolymer-incorporated liposomes, guest-in-cyclodextrin-in-liposome, liposome-in-hydrogel, liposome-in-film, and liposome-in-nanofiber. The physicochemical principles and key technical information underlying the combined strategies for the fabrication of polymeric liposomes, the advantages and limitations of each of the systems, and the stabilization mechanisms are discussed through various case studies. Special emphasis is directed toward the synergistic efficiencies of biopolymers and phospholipid bilayers on encapsulation, protection, and controlled delivery of bioactives (e.g., vitamins, carotenoids, phenolics, peptides, and other health-related compounds) for the biomedical, pharmaceutical, cosmetic, and functional food applications. The major challenges, opportunities, and possible further developments for future studies are also highlighted.