The development of lipid formulations of antifungal drugs has been a remarkable progress in the systemic antifungal arena. The lipid-based amphotericin B formulations; amphotericin B lipid complex (ABLC), amphotericin B colloidal dispersion (ABCD), and liposomal amphotericin B (LAMB) have been in clinical use since the 1990s. They are significantly less nephrotoxic than the parent compound and can be safely used at higher doses. The primary cost of these formulations is significantly high and the extent of data related to their head-to-head comparison remains limited. The lipid formulation of nystatin, liposomal nystatin, is another lipid-based polyene under development. Available data concerning the in vitro activity, pharmacokinetic profile, in vivo efficacy, and safety of these formulations are summarized in this overview.