Liposomes (LS) were prepared using chitosan-epigallocatechin gallate (CE) conjugate (0.1 and 0.5%, w/v) and soy phosphatidylcholine (SPC)/cholesterol as a lipid phase (LP) (30 and 60 µmol mL−1). The encapsulation efficiency (EE), particle diameter, zeta potential, and polydispersity index of LS were observed. The highest EE (76.96%) was found when LS was prepared using 0.5%, w/v of CE conjugate and 60 µmol mL−1 of LP (CELP-60-0.5) (p < 0.05). FTIR analysis showed the interaction between choline present in SPC and OH-groups of CE conjugate. Phase transition temperature of CELP-60-0.5 was 134.67 °C, higher than other samples (p < 0.05). CELP-60-0.5 showed inhibitory action against Gram-positive and -negative bacteria. High retention of antioxidant and antimicrobial activities of CELP-60-0.5 was observed than unencapsulated CE conjugate sample when stored for 28 days at 30 °C (p < 0.05). LS might be used as an efficient vesicle for maintaining bioactivities of CE conjugate, plausibly when used as a preservative in foods.