Solid lipid particles have a great potential in sustained drug delivery, the lipid excipients are solid at room temperature with a slow degradation rate. Poly (D, L-lactic-co-glycolic acid) (PLGA) has been successfully clinically applied for the sustained delivery of peptide drugs. A recent study showed the advantage of hybrid PLGA-lipid microparticles (MPs) over PLGA MPs for the sustained delivery of peptide drug in vivo. In this paper, we briefly present PLGA MPs, solid lipid MPs and PLGA lipid hybrid MP prepared by the double emulsion method and the spray drying method and discuss the effects of excipients on encapsulation efficiency of protein and peptide drugs in the MPs. The pros and cons of PLGA MPs, solid lipid MPs and PLGA lipid hybrid MP as carriers for sustained delivery of protein and peptide drugs are also discussed.