it is glycerine based; I like the product. One minus: shipping takes rather a long time (for me it was 3 weeks) and never got reply to any of my numerous e-mails. But I got the product. Hands down, I would choose alcohol based cause it gets better absorbed; hey liver itself makes small amounts of alcohol and it even makes small amounts of acetone! Nevermind if definitely no acohol- old amish dewormer would be it: smells really good, tastes not too bad and potency seems to be just fine.