Provided are a nanoliposome-microbubble conjugate in which a drug for hair loss treatment such as finasteride, minoxidil, dutasteride, etc. is encapsulated in a nanoliposome and a composition for alleviating or treating hair loss containing the same. Since an orally administered agent such as finasteride, currently useful as a drug for hair loss treatment, causes side effects, drug delivery through scalp application is most desirable, but the drug is not delivered to hair follicle cells through scalp application alone. Since a drug for hair loss treatment useful as an external preparation for skin causes various side effects, the concentration thereof that is used needs to be further lowered. The above nanoliposome-microbubble conjugate is capable of increasing the delivery efficiency of a drug for hair loss treatment at a low concentration, and is thus very effective at treating androgenic alopecia.