Background: Bortezomib is used for the treatment of multiple myeloma (MM); however, it has significant adverse effects. Emodin has been reported to exhibit inhibitory effects on MM cell lines. Here, we investigated the efficacy of E35, an emodin derivative, using U266 and MM1s cell lines in the treatment of MM and the efficacy of the combination of bortezomib and E35. Methods: MTT assays were used to observe the effects of E35 on MM cell growth. The effects on cellular apoptosis were observed using the Annexin V/propidium iodide (PI) staining assay. The expression of apoptosis-related genes, including the caspase family, was also examined. The efficacy of the combination of bortezomib and E35 was investigated by examining the expression of the Akt/mTOR/4EBP1 signaling pathway-related proteins. Results: We found that E35 inhibited the growth of the U266 and MM1s cells by inducing cellular apoptosis. E35 also downregulated the expression of the apoptosis-related genes and suppressed the phosphorylation of the Akt/mTOR/4EBP1 signaling pathway-related genes, exhibiting synergistic effects with bortezomib. All the observed effects were dose-dependent. Conclusion: The results of this study showed that E35 exhibited cytotoxic effects in MM cell lines. Thus, E35, especially in combination with bortezomib, may be considered as a promising treatment for MM. However, this requires further investigation in vivo.