Oxidative stress and decreased antioxidant status are the hallmarks in patients suffering from rheumatoid arthritis. A targeted nanocarrier can enhance the therapeutic efficacy of meloxicam, a preferential cyclooxygenase- 2 inhibitor with potential suppressive effects on free-radical mediated damage. Silica-coated solid lipid nanoparticles of meloxicam were fabricated by melt emulsification ultrasound homogenization technique and characterized for formation, morphology, morphometrical properties, drug entrapment, drug release pattern and storage stability. The in vitro antioxidant potential of lipid nanoparticles was evaluated by various antiradical and antioxidant assays including 1,1-diphenyl-2-picryl-hydrazil free radical scavenging, nitric oxide radical inhibition, lipid peroxidation, hydroxyl radical scavenging and superoxide anion radical scavenging activity. Lipid nanoparticles were successfully characterized for morphometrical parameters by photon correlation spectroscopy measurements. Transmission electron microscopy and atomic force microscopy studies confirmed the production of lipid nanoparticles. Meloxicam was successfully encapsulated within the lipid matrix as indicated by high drug entrapment efficiency, Fourier transform infrared spectroscopy and powder X-ray diffraction studies. The drug release from lipid nanoparticles exhibited a biphasic release pattern with good storage stability. Free radical scavenging activity of silica-coated meloxicam loaded solid lipid nanoparticles in all assays was higher than the free drug and was found to increase in a dose dependent manner. A nanocarrier based delivery system of meloxicam potentiates its free radical suppression effects and can further enhance its therapeutic efficacy in the management of rheumatoid arthritis.