Activation of the tyrosine kinase c-Src promotes breast cancer progression and poor outcome, yet the underlying mechanisms are incompletely understood. Here, we have shown that deleting c-Src in a genetically engineered model mimicking the Luminal B molecular subtype of breast cancer abrogates the activity of Forkhead Box M1 (FOXM1), a master transcriptional regulator of the cell cycle. We determined that c-Src phosphorylates FOXM1 on two tyrosine residues to stimulate its nuclear localization and target gene expression. These included key regulators of G2-M cell cycle progression as well as c-Src itself, forming a positive feedback loop that drove proliferation in genetically engineered and patient-derived models of Luminal B-like breast cancer. Using genetic approaches and small molecules that destabilize the FOXM1 protein, we found that targeting this mechanism induced G2-M cell cycle arrest and apoptosis, blocked tumor progression and impaired metastasis. We identified a positive correlation between FOXM1 and c-Src expression in human breast cancer and showed that the expression of FOXM1 target genes predicts poor outcome and associates with the Luminal B subtype, which responds poorly to approved therapies. These findings have revealed a regulatory network centered on c-Src and FOXM1 that is a targetable vulnerability in aggressive luminal breast cancers.