Synthesis and characterization of bioactive glass ceramics containing lithium oxide and sodium oxide based alkali-lime-silica glasses have been presented in this work. Both powder processing route and bulk glass crystallization route with controlled heat treatment schedule were employed in the synthesis process. P2O5 in different proportions was used as the nucleating agent in these compositions. The glass ceramics formed were characterized by measurement of specific gravity, hardness, DTA, XRD, FT-IR spectra, SEM and EDAX study. In-vitro tests with simulated body fluid composition and protein absorption tests with albumin were conducted with the synthesized materials. It was observed that the composition of the glass ceramics affect significantly the mechanical behaviour and bioactivity of the materials.