Lipophorin, the lipid carrier of the hemolymph, was isolated from male and female penultimate and final instar larvae by ion exchange chromatography, gel filtration or potassium bromide density gradient centrifugation. The native lipophorin is a lipoprotein of 700 kD molecular weight consisting of two glycosylated apoproteins (210 and 72 kD) and approximately 50% lipid. The major carried lipids are diglycerides, phospholipids and cholesterol, while triglycerides are minor constituents with traces of monoglycerides and free fatty acids. The lipid-loaded lipophorin is visualized as 12-15 nm particles by negative staining electron microscopy.