Metabolic rewiring has been recognized as an important feature to the progression of cancer. However, the essential components and functions of lipid metabolic networks in breast cancer progression are not fully understood. In this study, we investigated the roles of altered lipid metabolism in the malignant phenotype of breast cancer. Using a spheroid-induced epithelial-mesenchymal transition (EMT) model, we conducted multi-layered lipidomic and transcriptomic analysis to comprehensively describe the rewiring of the breast cancer lipidome during the malignant transformation. A tremendous homeostatic disturbance of various complex lipid species including ceramide, sphingomyelin, ether-linked phosphatidylcholines, and ether-linked phosphatidylethanolamine was found in the mesenchymal state of cancer cells. Noticeably, polyunsaturated fatty acids composition in spheroid cells was significantly decreased, accordingly with the gene expression patterns observed in the transcriptomic analysis of associated regulators. For instance, the up-regulation of
SCD, ACOX3
, and
FADS1
and the down-regulation of
PTPLB, PECR
, and
ELOVL2
were found among other lipid metabolic regulators. Significantly, the ratio of C22:6n3 (docosahexaenoic acid, DHA) to C22:5n3 was dramatically reduced in spheroid cells analogously to the down-regulation of
ELOVL2
. Following mechanistic study confirmed the up-regulation of
SCD
and down-regulation of
PTPLB, PECR, ELOVL2
, and
ELOVL3
in the spheroid cells. Furthermore, the depletion of
ELOVL2
induced metastatic characteristics in breast cancer cells via the SREBPs axis. A subsequent large-scale analysis using 51 breast cancer cell lines demonstrated the reduced expression of
ELOVL2
in basal-like phenotypes. Breast cancer patients with low
ELOVL2
expression exhibited poor prognoses (HR = 0.76, CI = 0.67–0.86). Collectively,
ELOVL2
expression is associated with the malignant phenotypes and appear to be a novel prognostic biomarker in breast cancer. In conclusion, the present study demonstrates that there is a global alteration of the lipid composition during EMT and suggests the down-regulation of
ELOVL2
induces lipid metabolism reprogramming in breast cancer and contributes to their malignant phenotypes.