SUV liposomes modified with wheat germ agglutinin-carbopol (WGA-CP) polymer conjugate were prepared and characterized for oral peptide delivery. The conjugate retained the biological binding activity of WGA without any evidence of cytotoxicity. The cellular uptake of WGA-CP liposomes by Caco-2 cells was about 2-fold higher than that of non-modified or CP-modified liposomes. The uptake was dependent on the surface concentration of WGA, temperature, and incubation time, and was partially inhibited in the presence of filipin, chlorpromazine, and free WGA. Confocal microscopy confirmed the simultaneous uptake of WGA-CP conjugate and liposomes in the cytoplasm Caco-2 cells and enterocytes of rats’ small intestine after oral administration. In addition, the pharmacological efficacy of calcitonin was enhanced by more than 20 and 5 folds after oral administration of WGA-CP liposomes as compared to non modified and CP liposomes, respectively.