The interaction of the fluorescent photosensitizer merocyanine 540 (MC-540) with model phospholipid membranes was studied. Two different-colored species (monomers and dimers) of MC-540 were registered in phospholipid liposomes. Variations in both phospholipid composition (DMPC, DPPC, POPC, egg PC) and temperature (15-60°C) resulted in changes in the MC-540 monomerdimer distribution. The values of the monomer-dimer equilibrium constant of MC-540 in egg PC (K=14.8 μM), in POPC (K=26.7 μM), and in DMPC (K=271.0 μM) were determined at the temperature of 23±2°C. Suppression of MC-540 association with phospholipid bilayers was provoked by the addition of albumin to a liposome suspension. Albumin was observed to compete very successfully with lecithins containing saturated fatty acid chains (DPPC, DMPC), while only a weak competition of albumin with unsaturated lecithins (POPC, egg PC) for binding MC-540 molecules was registered.