Ferroptosis is a non-apoptotic form of regulated cell death characterized by the lethal accumulation of iron-dependent membrane-localized lipid peroxides. It acts as an innate tumor suppressor mechanism and is particularly effective against mesenchymal and dedifferentiated cancer cells, which are typically resistant to apoptosis and traditional therapies. However, ferroptosis can also promote cancer development due to its potential negative impact on anticancer immunity. Understanding the role of ferroptosis in cancer is crucial for developing effective therapeutic strategies. This review provides an overview of recent advancements in the understanding of ferroptosis in cancer, covering molecular mechanisms, biological functions, regulatory pathways, and interactions with the tumor microenvironment. It also discusses potential applications of ferroptosis induction in immunotherapy, radiotherapy, and systemic therapy, as well as the use of ferroptosis inhibition for cancer treatment. Finally, it addresses current challenges and future directions in the field of ferroptosis-based cancer therapy.Ferroptosis is a non-apoptotic form of regulated cell death characterized by the lethal accumulation of iron-dependent membrane-localized lipid peroxides. It acts as an innate tumor suppressor mechanism and is particularly effective against mesenchymal and dedifferentiated cancer cells, which are typically resistant to apoptosis and traditional therapies. However, ferroptosis can also promote cancer development due to its potential negative impact on anticancer immunity. Understanding the role of ferroptosis in cancer is crucial for developing effective therapeutic strategies. This review provides an overview of recent advancements in the understanding of ferroptosis in cancer, covering molecular mechanisms, biological functions, regulatory pathways, and interactions with the tumor microenvironment. It also discusses potential applications of ferroptosis induction in immunotherapy, radiotherapy, and systemic therapy, as well as the use of ferroptosis inhibition for cancer treatment. Finally, it addresses current challenges and future directions in the field of ferroptosis-based cancer therapy.