The synergic effect of iron plus blue light on the peroxidation of membrane lipid was investigated, using liposomes made of phospholipid. While strong irradiation did not affect Fe$^{+2}$-promoted lipid peroxidation that turned out to be O$_2$-dependent, ferric iron in bright light exerted a pronounced effect on the initiation of lipid peroxidation: this combined action of light and Fe$^{+3}$ on liposomal membranes was apparently independent of O$_2$. When liposomal samples containing Fe$^{+3}$ were subjected to irradiation, some portions of Fe$^{+3}$ were converted into Fe$^{+2}$. The extent of the Fe$^{+3}$-Fe$^{+2}$ conversion increased with increasing time of irradiation, which resembled the dependence of Fe$^{+3}$-promoted lipid peroxidation on irradiation. Further, it was observed that the effect of irradiation in liposomal samples containing Fe$^{+2}$ was strikingly mimicked by that of Fe$^{+2}$ addition to the same samples. The obligatory requirement of a suitable Fe$^{+3}$/Fe$^{+2}$ ratio for the genesis of iron-dependent lipid peroxidation, a controversial proposition, was also confirmed by the observation that lipid peroxidation was substantially enhanced by the addition of a mixture of Fe$^{+3}$ and Fe$^{+2}$, as compared to the addition of Fe$^{+3}$ or Fe$^{+2}$ alone. The results obtained in this study not only suggest that light acts as an effector for initiating lipid peroxidation, when Fe$^{+3}$ is present in membrane systems, but also imply that any chemical or physical factor that influences the redox states of iron in membranes can play a role in lipid peroxidation reactions.