The lipid-based drug delivery systems have seen a major change and that has resulted in a significant change in the way drugs are being used for neurological, oncological, and systemic diseases. The process started with the traditional liposomes and finally ended with highly sophisticated lipid nanoparticles, tocosomes, and nanoliposomes that have better targeting, stability, and biocompatibility. The article in question does a thorough review of the historical development, structural basis, classification methods, and Quality by Design (QbD) formulation strategies that improve carrier efficiency. It also looks into the AI-enabled lipid nanoparticle technology that allows for customization, responsiveness to stimuli, and precision medicine applications. The comparison of the surfactant-based systems, the traditional liposomes, and the LNPs gives a clearer view of the need for compatibility, the therapeutic goals, and the disease-specific suitability. The new ways to deliver drugs through the skin, mouth, and quick-dissolving platforms are discussed in terms of their contribution to patient adherence and clinical use. The delivery of drugs using strategies like targeting is especially stated for neurological disorders such as Alzheimer's, cancers, and gene-based therapies; and that is made possible by developing ligand-based targeting and immune modulation. The discussed challenges in translation are regulatory complexities, scalability, reproducibility, and immunogenicity along with the future perspectives focusing on smart nanocarriers, hybrid biomimetic systems, and personalized therapeutics being the most important. In the end, it can be said that lipid-based nanocarriers are not just passive drug vehicles anymore, but rather they are becoming more like intelligent therapeutic platforms and thus, the transformation in the field of pharmaceutical sciences and clinical medicine is going to be very significant.