The invention relates to a pharmaceutical composition for the treatment of allergic and autoimmune diseases by in vivo generation of tolerogenic dendritic cells (DCs) and macrophages using tolerizing liposomes loaded with at least one maturation inhibitor of DCs and at least one antigen or allergen or peptide derived thereof, made of at least one preparation, and comprising a matrix suitable for locally restricted sustained release of therapeutically effective doses of therapeutics including tolerogenic liposomes tailored for effective phagocytosis, at least one immune modulator of phagocytosis, and optionally at least one immune modulator suitable for enhancing the suppressive function of regulatory T cells and/or inhibiting the production of pro-inflammatory cytokines, and/or inhibiting the biological activity of secreted pro-inflammatory cytokines at the site of antigen or allergen presentation.