The liquid antisolvent (LAS) precipitation process for production of ultra-fine particles has been widely researched for a last few decades. In LAS process, precipitation of solute is achieved by decreasing the solvent power for the solute dissolved in a solution. This is done by addition of a non-solvent for solute called as antisolvent. The method is applicable for a wide range of materials such as pharmaceutical ingredients, inorganic compounds, polymers and proteins. In this work, efforts have been made to review the use of LAS for precipitation and stabilization of ultrafine particles of poorly water soluble drugs. The main focus of this review is on the strategies for controlling particle size, size distribution, and stabilization of ultrafine particles using polymers and surfactants. Process intensification of LAS process using ultrasound and rapid mixing devices has also been discussed in detail. (C) 2011 Elsevier B.V. All rights reserved.