In this study, we synthesized a novel compound, agmatine-cholesterol conjugate (AG-Chol), to enhance the anti-tumor activity of liposomes. We used AG-Chol to replace cholesterol in preparing doxorubicin hydrochloride (DOX) liposomes by an active loading method. We assessed the physical and chemical properties of the resulting liposomes (AG-Liposomes) and evaluated their e cacy in vitro and in vivo. The results showed that AG-Liposomes were stable with high encapsulation e ciency. Compared with the control liposomes, AG-Liposomes exhibited a slower release rate in the release medium at pH 6.8. The in vitro cell experiments demonstrated that AG-Liposomes had higher tumor cell uptake, migration inhibition rate, apoptosis rate, anti-clonogenic ability, and lysosome escape ability than the control liposomes. In vivo distribution results demonstrate that liposomes prepared with AG-Chol instead of cholesterol can signi cantly enhance their tumor targeting abilities and reduce their distribution to non-targeted sites. In vivo tumor suppression experiments showed that AG-Liposomes had a higher tumor suppression rate than the control liposomes without apparent toxicity, as evidenced by histological staining. Therefore, substituting cholesterol with AG-Chol in the preparation of liposomes can result in enhanced lysosome escape, improved tumor targeting, and increased e cacy of anti-tumor drugs.