Lisa was forecast to strengthen into a hurricane by early Wednesday when it crosses over or near the Bay Islands and approach Belize later in the day.
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Tropical Storm Lisa could become a hurricane as it makes landfall in Central America.
The US National Hurricane Center (NHC) said Lisa had maximum sustained winds of 100 kmh and was moving west at 24 kph.
The centre of the storm was located about 280 kilometres east of the Honduran island of Roatan.
Lisa was forecast to strengthen into a hurricane by early Wednesday when it crosses over or near the Bay Islands and approach Belize later in the day.
People living on Belize's coastline have been preparing their homes.
Windows are being secured with wooden planks and sandbags are being placed around buildings to protect them from possible floods.
"A phenomenon like this is very dangerous for us, everything floods quickly with a little rain," said Jazmín Ayusola a local in Belize City. "Imagine a hurricane, winds and so on with a lot of rain, it is the fear of many people and sometimes there are some who don't have well-insured houses so people also fear flooding or other disasters."
The NHC predicts that the coast of Belize could see water rises of as much as 1.22-1.23 meters and added that a smaller storm surge was possible along the southeastern Yucatan.
They issued a warning to locals to stay indoors and to stock up on goods as only pharmacies and gas stations would remain open.
Other Central American nations are also preparing for Lisa, though experts hope that it will weaken by the time it reaches Guatemala and southern Mexico.