A lipid transfer particle (LTP) was purified from the hemolymph of the silkworm Bombyx mori. Like other insect LTPs, the B. mori LTP is a very high density lipoprotein containing 21% lipid and three apoproteins of mass approximately 350 kDa, approximately 85 kDa, and approximately 60 kDa. B. mori LTP catalyzes the exchange of lipids between different density class lipoproteins found in adult hemolymph and between adult lipoproteins and vitellogenin. However, in no case was net lipid transfer observed. Manduca sexta LTP also catalyzed exchange of lipids, but not net transfer of lipids, between different density class lipoproteins found in adult hemolymph.