This study was aimed to develop nanostructured lipid carriers (NLC) for the possible delivery of mefenamic acid. This study describes the effect of liquid lipid concentration on the characteristics of NLC such as particle size, polydispersity index, zeta potential, drug entrapment efficiency, and occlusivity index. Transmission electron microscopy revealed nearly spherical shape NLC with negligible effect of liquid lipid content on the particle morphology. The differential scanning calorimetry demonstrated a depression in the melting point and crystallinity index of the NLC with an increase in the amount of liquid lipid. The in vitro drug release studies demonstrated that solid lipid nanoparticle (0% oil), and NLC possessed a biphasic release pattern characterised by a rapid initial release followed by a sustained release, in comparison to nanoemulsions (100% oil) of which a nearly constant release was observed. Compared to NE and SLN, the excellent physical stability of NLC against drug leakage was seen.