Liposomes are amphipathic lipidic supramolecular aggregates able to encapsulate and carry molecules of both hydrophilic and hydrophobic nature. They have been widely used as in vivo drug delivery systems since long due to their favorable features, such as synthetic flexibility, biodegradability, biocompatibility, low immunogenicity, and negligible toxicity. In recent years, the possibility to introduce chemical modifications on liposomes has paved the way to smart liposome-based drug delivery systems characterized by even more tunable and disease-directed features. In this review, the different types of chemical modifications introduced so far have been highlighted, with a particular focus on internal stimuli-responsive liposomes and pro-drug activation.