L1=[1,2,3,4]
L2=[5,6,7,8]

x=list(zip(L1,L2))
print(x)

Python 2.7.1+ (r271:86832, Apr 11 2011, 18:05:24)

In [1]: a = [1,2,3,4] 

In [2]: b = [5,6,7,8]

In [3]: c=zip(a,b)

In [4]: c
Out[4]: [(1, 5), (2, 6), (3, 7), (4, 8)]

In [5]: d=list(zip(a,b))

In [6]: d
Out[6]: [(1, 5), (2, 6), (3, 7), (4, 8)]

c = [a for a in zip(L1, L2)]
print(c)

Python 3.2 (r32:88445, Feb 20 2011, 21:29:02) [MSC v.1500 32 bit (Intel)] on win32
Type "copyright", "credits" or "license()" for more information.
>>> L1=[1,2,3,4]
>>> L2=[5,6,7,8]
>>> list(zip(L1,L2))
[(1, 5), (2, 6), (3, 7), (4, 8)]