The research work mainly aimed at the formulation, development and in-vitro evaluation of cilnidipine phospholipid complex and its matrix dispersion. Cilnidipine is BCS class II drug that has low solubility and high permeability. The drug is generally used as an antihypertensive agent. The main problem with the drug is its low bioavailability due to its low aqueous solubility. In the present investigation, egg lecithin was used as a phospholipid and a drug-phospholipid complex was prepared using the solvent evaporation method, which was further formulated to matrix dispersion. Cilnidipine and phospholipid were taken in different molar ratios. The solvent was evaporated through Rota evaporator. Due to the stickiness in the prepared drug-phospholipid complex, it was further formulated to prepare matrix dispersion by the addition of PVA as a polymer, which increases the dispersibility of the drug. Formulated drug-phospholipid complex and matrix dispersion were subjected to various characterization studies such as percentage yield, solubility, FTIR, DSC, PDI, Zeta potential and in-vitro drug release studies. The optimized formulation (F1) was selected and was further used for the preparation of matrix dispersion. From the obtained results, it can be concluded that the prepared drug-phospholipid complex and matrix dispersion showed better drug release as compared to pure drug.