Prefoldin (PFDN), a hexameric chaperone complex, is crucial for the correct folding of nascent proteins. PFDN5, a subunit of PFDN, also known as MM-1, plays an essential role in regulating cell migration and senescence. Emerging evidences suggest that PFDN-5 deletion or mutation significantly contributes to the initiation and progression of multiple cancers and the prognosis of patients. In this paper, recent researches on the biological underpinnings of PFDN-5 and its anti-cancer prospect are reviewed, aiming to provide a novel potential therapeutic target for the treatment of malignancies.