The present invention relates to a method for producing a 2-hydroxypropyl-beta-cyclodextrin inclusion complex of taxol, said 2-hydroxypropyl-beta-cyclodextrin having a degree of substitution of 0.4 to about 0.9, wherein the method comprises admixing the 2-hydroxypropyl-beta-cyclodextrin with taxol at a molar ratio of 1-1000 times with respect to taxol. A second aspect of the invention relates to a method for improving the solubility of taxol, said method comprising: (i) dissolving taxol in ethanol; (ii) dissolving 2-hydroxypropyl-beta-cyclodextrin, having a degree of substitution of 0.4 to about 0.9, in water; (iii) admixing the solution from step (i) with the solution from step (ii) and stirring, shaking or heating. A third aspect of the invention provides a 2-hydroxypropyl-beta-cyclodextrin inclusion complex of taxol, wherein said 2-hydroxypropyl-beta-cyclodextrine has a degree of substitution of 0.4 to about 0.9.