The complexation of beta-cyclodextrin with monolayers of cholesterol, DMPC, DMPG, and mixtures of those lipids has been studied using Brewster microscopy, PMIRRAS, and ab initio calculations. An oriented channel-like structure of P-cyclodextrin, perpendicular to the air/water interface, was observed when some cholesterol molecules were present at the interface. This channel structure formation is the first step in the cholesterol dissolution in the subphase. With pure DMPC and DMPG monolayers, weaker, less organized complexes are formed, but they disappear almost completely at high surface pressure, and only a small amount of phospholipid is dissolved in the subphase.