The invention provides a photosensitive liposome carrying oxygen to enhance photodynamics, which is composed of phospholipids, cholesterol, long-circulation materials, hemoglobin, and chemotherapeutic drugs and/or photosensitizers, each component is dissolved in an organic solvent, and the Steam to form a thin film, then add oxyhemoglobin solution, or a mixed solution of photosensitizers and/or chemotherapeutic drugs and oxyhemoglobin, and hydrate to obtain a multilayer liposome solution, which is obtained by ultrasonication and purification. The liposome of the present invention can simultaneously carry oxygen, chemotherapeutic drugs and/or photosensitizers to the tumor site, alleviate the hypoxic state of tumor cells, improve the sensitivity of tumor cells to chemotherapeutic drugs, inhibit tumor growth and metastasis, and can also Under the irradiation of near-infrared light, the photosensitizer in the liposome generates more singlet oxygen, resulting in an enhanced photodynamic therapy effect. The loaded drug molecules are released to realize remote control of drug release.