The testis‐specific protein, Y‐linked 1 (
TSPY
1), a newly recognized cancer/testis antigen, has been suggested to accelerate tumor progression. However, the mechanisms underlying
TSPY
1 cancer‐related function remain limited. By mining the
RNA
sequencing data of lung and liver tumors from The Cancer Genome Atlas, we found frequent ectopic expression of
TSPY
1 in lung adenocarcinoma (
LUAD
) and liver hepatocellular carcinoma (
LIHC
), and the male‐specific protein was associated with higher mortality rate and worse overall survival in patients with
LUAD
and
LIHC
. Overexpression of
TSPY
1 promotes cell proliferation, invasiveness, and cycle transition and inhibits apoptosis, whereas
TSPY
1 knockdown has the opposite effects on these cancer cell phenotypes. Transcriptomic analysis revealed the involvement of
TSPY
1 in
PI
3K/
AKT
and
RAS
signaling pathways in both
LUAD
and
LIHC
cells, which was further confirmed by the increase in the levels of phosphorylated proteins in the
PI
3K‐
AKT
and
RAS
signaling pathways in
TSPY
1‐overexpressing cancer cells, and by the suppression on the activity of these two pathways in
TSPY
1‐knockdown cells. Further investigation identified that
TSPY
1 could directly bind to the promoter of insulin growth factor binding protein 3 (
IGFBP
3)
to inhibit
IGFBP
3
expression and that downregulation of
IGFBP
3 increased the activity of
PI
3K/
AKT
/
mTOR
/
BCL
2 and
RAS
/
RAF
/
MEK
/
ERK
/
JUN
signaling in
LUAD
and
LIHC
cells. Taken together, the observations reveal a novel mechanism by which
TSPY
1 could contribute to the progression of
LUAD
and
LIHC
. Our finding is of importance for evaluating the potential of
TSPY
1 in immunotherapy of male tumor patients with
TSPY
1 expression.