The naringenin phospholipid complex was prepared by solvent evaporation method. The structure of naringenin phospholipid complex was characterized by ultraviolet spectroscopy,Fourier transform infrared spectroscopy,and Xray diffraction. The thermal properties of the complex were analyzed by differential scanning calorimetry.The solvent residues in phospholipid complex were determined by gas chromatography. The equilibrium solubility in water,noctanol and PBS (pH 2.5,pH 5.0,pH 6.5,pH 7.0,pH 7.8-8.0),oil/water partition coefficient and in vitro dissolution were determined by high performance liquid chromatography. The results showed that the drug loading efficiency of naringenin phospholipid complex was 31.79%±0.99% under the condition of naringenin mass fraction 5 g/L,naringenin and phospholipid mass ratio 1∶1.5,reaction time 2 h and reaction temperature 40℃. The residual amounts of methylene chloride and ethyl acetate in the naringenin phospholipid complex were 0.016 3%±0.002 5% and 0.040 8%±0.001 9%,respectively,which all met the standard of Chinese Pharmacopoeia. The equilibrium solubility of the naringenin phospholipid complex was significantly higher than that of naringenin in water,noctanoland and PBS with different pHs. The logarithmic value of oilwater partition coefficient of naringenin phospholipid complex was 1.11±0.09. The in vitro dissolution of naringenin phospholipid complex was significantly higher than that of naringenin,and easier to be absorbed and utilized by human.