Lecithin-encapsulated carvacrol has been incorporated into poly (vinyl alcohol) (PVA) for the purpose of obtaining active films for food packaging application. The influence of molecular weight (Mw) and degree of hydrolysis (DH) of the polymer on its ability to retain carvacrol has been analysed, as well as the changes in the film microstructure, thermal behaviour, and functional properties as packaging material provoked by liposome incorporation into PVA matrices. The films were obtained by casting the PVA aqueous solutions where liposomes were incorporated until reaching 0 (non-loaded liposomes), 5 or 10 g carvacrol per 100 g polymer. The non-acetylated, high Mw polymer provided films with a better mechanical performance, but less CA retention and a more heterogeneous structure. In contrast, partially acetylated, low Mw PVA gave rise to more homogenous films with a higher carvacrol content. Lecithin enhanced the thermal stability of both kinds of PVA, but reduced the crystallinity degree of non-acetylated PVA films, although it did not affect this parameter in acetylated PVA when liposomes contained carvacrol. The mechanical and barrier properties of the films were modified by liposome incorporation in line with the induced changes in crystallinity and microstructure of the films.