Enhancing the therapeutic efficacy of the existing drug is a reliable approach for the betterment of unmet needs in the therapeutic segment. Based on the need, various strategies have been explored, and carrier-based drug delivery is one among them. Further, the carrier-based delivery system is found in the nanocarrier-based delivery system. Even though the nanocarrier system shows superior therapeutic efficacy, the issues related to the compatibility, toxicity, effect on the biological system, manufacturing complications, etc., remain unaddressed. To counter the challenges associated with liposomal, polymeric, lipidic, and many other nano delivery systems, the extracellular vesicular systems have been explored. As they are derived from biological sources, the finding of a biocompatible delivery system has been achieved. The biomedical applications of the extracellular vesicular are being explored, and the challenges related to the stability remain untouched. One of the techniques to stabilize the extracellular vesicular is lyophilization. Lyophilization maintains the structural integrity and many other properties of the extracellular vesicular, which are majorly required for the stabilization of the extracellular vesicular. In the way of freeze-drying of extracellular vesicular, various parameters of the lyophilization and formulation aspects will affect the extent of stability of the extracellular vesicular, which is summarized in the current chapter.