Targeted liposomes have high potentials in the specific and effective delivery of their loaded therapeutic agents to the tumor site. Once at the tumor site, it is important that these liposomes are triggered to release their load in a controlled and effective manner. In this study, pegylated (stealth) liposomes conjugated to human serum albumin (HSA) were investigated for the delivery of a model drug (calcein) to breast cancer cells. The fluorescent results showed that calcein uptake by the two breast cancer cell lines (MDA-MB-231 and MCF-7) was significantly higher with the HSA-PEG liposomes compared to the non-targeted control liposomes. Furthermore, the exposure to low-frequency ultrasound (LFUS) resulted in a statistically significant uptake of calcein compared to the uptake without ultrasound. The described drug delivery (DD) system, which involves combining the targeted liposomal formulation with ultrasonic triggering techniques, promises a safe, effective and site-specific breast cancer therapy.