Complex formation of niflumic acid with β-, hydroxypropyl-β- and methyl-β-cyclodextrins in aqueous solution (pH 7.4) were studied by calorimetry of solution, ¹H NMR spectroscopy and solubility method. The enhancement of niflumic acid solubility in the presence of hydroxypropyl-β-cyclodextrin was detected. This effect is explained on the basis of ¹H NMR data confirming the inclusion of hydrophobic trifluoromethylphenyl residue of niflumic acid molecule into the macrocyclic cavity. The thermodynamic parameters of 1:1 binding were derived from the data of␣calorimetry and solubility measurements. It was obtained, that complex formation of niflumic acid with β-cyclodextrin and both its derivatives is enthalpy driven. Substitutes surrounding the macrocyclic cavity slightly influence the thermodynamics of complex formation resulting in decrease of stability of the complexes formed.