A dispersion system for saturated fluorocarbon (SFC) liquids based on permeable hollow nanospheres with fluorous interiors is described. The nanospheres are well dispersible in water and are capable of immediate uptake of SFCs. The nanosphere shells are gas-permeable and feature reactive functional groups for easy modification of the exterior. These features make the SFC-filled nanospheres promising vehicles for respiratory oxygen storage and transport. Uptake of molecular oxygen into nanosphere-stabilized SFC dispersions is demonstrated.