<p><i>Toxoplasma gondii</i> (<i>T. gondii</i>), an intracellular protozoan parasite, has attracted significant attention in recent years for its dual role in both promoting and inhibiting cancer. Although traditionally recognized as a potential risk factor for tumor development, particularly in immunocompromised individuals, emerging research suggests that <i>T. gondii</i> may possess anti-cancer properties. This paradox is rooted in the parasite’s ability to modulate the host’s immune system, triggering antitumor immune responses through the activation of immune cells and the secretion of cytokines such as TNF-α and IFN-γ. <i>T. gondii</i> has demonstrated efficacy in reversing tumor-associated immunosuppression, inhibiting angiogenesis, and promoting tumor regression in preclinical models. However, its potential as an immunotherapeutic agent is tempered by the risks associated with administering live parasites, including infection and immune system complications. This article reviews the current understanding of <i>T. gondii</i> impact on cancer and its potential role in cancer therapy. Despite promising preclinical results, challenges remain, including the need for safer therapeutic approaches. Future research should focus on genetically modified or attenuated strains of <i>T. gondii</i> that retain their antitumor capabilities while minimizing risks. Understanding the underlying mechanisms by which <i>T. gondii</i> modulates the tumor microenvironment will be crucial for translating these findings into clinical applications, potentially offering new avenues for cancer treatment.</p>