Lipids have wide range of applications in food and pharmaceuticals. The pharmaceuticals application of lipid is to improve solubility of drug also helps to improve the bioavailability. The dissolution/dissolving phase, which is probably the rate-limiting component for oral absorption of poorly water-soluble drugs, is eliminated by pre-dissolving pharmaceuticals in lipids, surfactants, or combinations of lipid excipients and surfactants. The most widely used co-solvents, together with lipid excipients, are propylene glycol, glycerol, and polyethylene glycols-400, poloxamer etc. various technologies are used such as melt extrusion, melt granulation for preparation of lipid based oral modified released dosage forms.  This review summaries the overview of the lipid excipients in terms of their classification, methods of absorption, and lipid-based product development. The manufacture of solid and semi-solid lipid formulations using various methodologies, applications, phase behaviour, and the regulatory outlook of lipid excipients are covered. Keywords: Solid lipids, lipid classification, solidification techniques, modified released.