Several liquid crystalline phases are bicontinuous cubic, reversed hexagonally, or reversed cubic phase, and several nanostructure liquid phases. Of the many liquid crystalline phases, bicontinuous cubic phases possess a special status. Dispersed particles of bicontinuous cubic liquid crystalline phase (cubosomes) are self-assembled nanostructured particles that can be formed in aqueous lipid and surfactant systems. Cubosome dispersions are thermodynamically stable, bioadhesive, and biocompatible, because of their properties, they are versatile systems, administrable by different ways such as orally, percutaneously, and parenterally. The discovery of cubosomes is a unique story. Despite the early realization of their potential, the manufacture of cubosomes on a large scale faced difficulty because of their complex phase behavior and viscous properties. The cubosome advantage is related to the simple production procedure and chemicophysical stability. Concerning the liposome, cubosome possesses a larger ratio between the bilayer area and the particle volume and larger breaking resistance. Cubosome structure studied using electron microscopy, "light scattering," x-ray and "NMR." This review focus on liquid crystalline phase and cubosomes (bicontinuous cubic shape nanoparticles) in detail.