Abstract: OBJECTIVE To investigate the effect of pegylated liposomal doxorubicin and epirubicin used in neoadjuvant chemotherapy of breast cancer. METHODS The 146 patients who accepted neoadjuvant chemotherapy of breast cancer from 2015 January to 2015 december were analyzed, 86 of them received pegylated liposomal doxorubicin, and 60 of them received epirubicin. Compared the clinicopathologic feature, curative effect and untoward effect of drugs between two groups. Logistic regression analysis was used to analyze the factors influencing neoadjuvant chemotherapy. RESULTS Clinicopathologic feature of two groups had no difference. Pegylated liposomal doxorubicin's curative effect was in accordance with epirubicin's. The HER-2 state was the main factors affecting curative effect. Pegylated liposomal doxorubicin's untoward effect such as leukopenia, vomiting, alopecia and electrocardiographic abnormality was less than epirubicin's. But pegylated liposomal doxorubicin's hand-foot skin reaction was much more than epirubicin's. CONCLUSION The efficacy of pegylated liposomal doxorubicin is comparable to conventional anthracycline in neoadjuvant chemotherapy of breast cancer.