MicroRNAs (miRNAs) are a class of noncoding RNAs of about 19–25 nucleotides, which serve as critical modulators of various cellular and biological processes by target gene regulation. Dysregulated expression of miRNAs modulates the pathophysiology of various human diseases, including cancer. Among miRNAs, miR‐203a is one of the most extensively researched dysregulated miRNAs in different cancers. Our review investigated the roles of miR‐203a in the hallmarks of cancer modulating different pathways through target gene regulations, chemoresistance, its crosstalk with other ncRNAs or genes in terms of ceRNAs impacting oncogenesis, and its potential applications in the diagnosis, prognosis, and chemotherapeutic responses in different cancer types. miR‐203a impacts cancer cell behavior by regulating these exclusive hallmarks‐ sustaining proliferation, cell growth, invasion and metastasis, cell death, and angiogenesis. Besides, miR‐203a is found in human circulating biofluids like plasma or serum of colorectal cancer, cervical cancer, and hepatocellular carcinoma, hinting at its potential as a biomarker. Further, miR‐203a is involved in enhancing the chemosensitivity of cisplatin, docetaxel, paclitaxel, doxorubicin, and 5‐fluorouracil in a variety of malignancies through their cognate target genes. These results suggest that miR‐203a is a crucial multifaceted miRNA that controls cancer cell proliferation, metastasis, and chemotherapy response, shedding new light on its possible application.