Ro-Kyu-Bu made me ill...
Most famous loli character, as sticking with the thread's title, would have to be Shana from the franchise: Shakugan no Shana.
Notable mentions:
Shinobu Oshino - Bakemonogatri
Not a 'true' loli I know, but in this form who cares!
Illyasviel von Einzbern - Fate/
Shizuku - Omamori Himari
Most famous loli character, as sticking with the thread's title, would have to be Shana from the franchise: Shakugan no Shana.
Notable mentions:
Shinobu Oshino - Bakemonogatri
Not a 'true' loli I know, but in this form who cares!
Illyasviel von Einzbern - Fate/
Shizuku - Omamori Himari