In the past decade, the role of the mevalonic acid pathway and its inhibitor statins in preventing tumorigenesis and improving tumor prognosis has attracted wide attention; however, so far, there are still controversies over the role of statins in liver cancer. Previous studies have shown that statins play an important role in cholesterol metabolism, antioxidation, and anti-inflammation, and cholesterol metabolism, oxidative stress, and inflammatory response are important factors to promote the development and progression of liver cancer. However, some recent studies have found that statins have an adverse effect on the treatment of some liver cancer patients. This article elaborates on the role of statins as a “double-edged sword” in the treatment of liver cancer and related molecular mechanisms.