Liposomes are lipid bilayer vesicles that can be used as encapsulation systems for bioactive agents to provide increased protection against environmental stresses (such as pH or temperature extremes). Time Domain Nuclear Magnetic Resonance (TD-NMR) that is based on differentiation of specimen contents with respect to magnetic relaxation rates provides detailed information on amount, state and distribution of water and oil and provide reproducible results on the samples. These make TD-NMR particularly suitable for time-dependent monitoring of emulsion system dynamics. In this study, spin-spin (T-2) relaxation times and relaxation spectra were used for characterizing green tea extract loaded and unloaded liposornes prepared with soy (S75) and egg lecithins (E80) by different preparation methods (such as homogenization type, pressure and solvent type). Mean particle sizes of liposomes were found to be the most influential factor in shaping mono-exponential T-2 relaxation times. The differences in particle sizes of E80 and S75 samples along with samples with different homogenization pressures could be monitored with T-2 relaxation times. Additionally, T-2 relaxation times were found to be correlated with particle shape irregularity, and chemical instability of samples due to lipid oxidation. With relaxation spectrum analysis, particular components in the sample could be distinguished (internal/external water and lipid bilayers), which gave more elaborate results on mechanisms of instability.