Activator protein‐2 (AP‐2) transcription factors are involved in the regulation of cell proliferation, differentiation, apoptosis and carcinogenesis. AP‐2α has been suggested to function as a tumor suppressor in many cancers and AP‐2γ to be a marker of testicular and germ cell malignancies. At least 3 of the 5 AP‐2 family members identified to date, AP‐2α, AP‐2β and AP‐2γ, are known to be expressed in breast tissue and thought to coordinate the growth and development of the breast via regulation of several breast‐related genes such as human epidermal growth factor receptor‐2 (HER2) and estrogen receptor (ER). The function of AP‐2α seems to be tumor suppressive in breast tissue, whereas the role of the other AP‐2 family members is less well known. In this review, we summarize the current knowledge of AP‐2 in carcinogenesis, especially in breast cancer. © 2007 Wiley‐Liss, Inc.