This study investigates the development and characterization of liposomes as carriers for a novel herbal contrast agent for magnetic resonance imaging (MRI). Liposomes were synthesized using phosphatidylcholine and cholesterol for the lipid bilayer membrane and a polar fraction isolated from the “Suaeda” plant for the aqueous phase. The encapsulation efficiency, size, zeta potential, stability, and morphology of the liposomes were evaluated using various techniques. Additionally, by cytotoxicity assays, we contrasted the toxicity of the encapsulated contrast agent to the nonencapsulated form. Finally, relaxivity computations were performed to assess the suitability of the liposomal agent for MRI applications. The liposomal contrast agent had suitable physical properties (stable mean size of 163 nm and zeta potential of −60 mV) and better biochemical characteristics than nonencapsulated media. The liposomal agent demonstrated increased relaxivity and acceptable cytotoxicity with a contrast-making concentration. Therefore, the encapsulated herbal contrast agent can be useful for biological applications.