Targeting the phosphatidylinositol-3 kinase/protein kinase B/mammalian target of rapamycin (PI3K/Akt/mTOR) signalling pathway is a promising strategy for the treatment of various cancers, including bladder cancer (BC). PF-04691502 is a relatively novel dual PI3K/mTOR inhibitor that exerts inhibitory effects against various cancer cells. However, the effects of PF-04691502 in BC cells have not been clarified thus far. This study aimed to evaluate the antitumour effects of PF-04691502 and the mechanisms underlying these antitumour effects in BC cells. The effects of PF-04691502 on the viabilities of BC cells were examined using the cell counting kit 8 (CCK-8) assay. Cell migration and invasion were measured using the wound healing assay and transwell assay, respectively. Cellular apoptosis was determined using flow cytometry. The change in the cellular protein levels was measured using western blotting. siRNA was used to study the role of PTEN in the antitumour effects of PF-04691502. PF-04691502 inhibited the proliferation, migration, and invasion of BC cells. Additionally, PF-04691502 induced apoptosis of BC cells via the intrinsic pathway. PF-04691502 inhibited the expression of Mcl-1 and the PI3K/Akt/mTOR pathway in BC cells. In addition, PF-04691502 increased the apoptosis induced by various chemotherapeutic agents in BC cells. Taken together, PF-04691502 could be used alone or in combination with other chemotherapeutic agents in the treatment of BC.