Fat transplantation is increasingly used in breast augmentation; and recently, the issue of safety concerns from a cellular and molecular point of view has been raised. In this study, attentions were paid to the interaction between adipose‐derived stem cells (ADSC) and mammary epithelial cells: human breast cancer cell line ‐ 100 (HBL ‐ 100) cells were used to simulate the normal microenvironment in breast tissue, ADSCs were harvest from human and co‐cultured with HBL‐100 cells. It was found that ADSCs formed tube‐like structures in the co‐culture with HBL‐100 cells in contrast to the normal morphology of ADSCs in the control group. In addition, the immunofluorescence imaging showed that cytokeratin 18 and 19 (CK18 and 19) were significantly expressed in ADSCs after the co‐culture with HBL‐100 cells. The ultrastructure of those ADSCs also showed epithelial changes. In conclusion, ADSCs are not biological stable when co‐cultured with HBL‐100 cells. They differentiate into epithelial‐like cells with the expression of epithelial surface marks (CK 18, 19) and form tube‐like structures. This may offer an important evidence for the further study of clinical application of transplanting ADSCs rich adipose tissue into the breast in the future.