Y‐box binding protein‐1 (
YBX
1), a multifunctional oncoprotein containing an evolutionarily conserved cold shock domain, dysregulates a wide range of genes involved in cell proliferation and survival, drug resistance, and chromatin destabilization by cancer. Expression of a multidrug resistance‐associated
ATP
binding cassette transporter gene,
ABCB
1
, as well as growth factor receptor genes,
EGFR
and
HER
2/ErbB2
, was initially discovered to be transcriptionally activated by
YBX
1 in cancer cells. Expression of other drug resistance‐related genes,
MVP
/
LRP
,
TOP
2A
,
CD
44
,
CD
49f
,
BCL
2
,
MYC
, and androgen receptor (
AR
), is also transcriptionally activated by
YBX
1, consistently indicating that
YBX
1 is involved in tumor drug resistance. Furthermore, there is strong evidence to support that nuclear localization and/or overexpression of
YBX
1 can predict poor outcomes in patients with more than 20 different tumor types.
YBX
1 is phosphorylated by kinases, including
AKT
, p70S6K, and p90
RSK
, and translocated into the nucleus to promote the transcription of resistance‐ and malignancy‐related genes. Phosphorylated
YBX
1, therefore, plays a crucial role as a potent transcription factor in cancer. Herein, a novel anticancer therapeutic strategy is presented by targeting activated
YBX
1 to overcome drug resistance and malignant progression.