The present invention provides a method of inhibiting cancer growth in the lungs of a mammal through the inhalation administration of aerosol particles of an anti-cancer drug formulation. Further, the present invention provides a formulation for aerosol delivery that comprises a combination of paclitaxel, α-tocopheryl succinate sorbitan trioleate, ethanol, and carbon dioxide. Prior studies have indicated that aerosol administration of cancer drugs holds great potential as a treatment modality, both for lung cancer and for lung metastases of other cancers. Practice of the invention has been demonstrated using a mouse model of lung cancer, in which intrapulmonary deposition of paclitaxel by aerosol inhalation reduced lung tumor size and increased body weight in tumor-bearing mice.