Cancer is a life-threatening disease that remains a global health problem, with millions of people diagnosed yearly. Despite significant progress in cancer treatment, conventional chemotherapy still faces several limitations, including poor solubility, low bioavailability, lack of selectivity, and severe side effects. Therefore, alternative therapeutic strategies are necessary to improve cancer therapy. This review aimed to provide an updated overview of phytosome complexes and their potential application in cancer therapy, including their formulation techniques, transportation mechanism through phytosome, and recent investigations on their efficacy in treating different types of cancers. In recent years, nanotechnology has emerged as a promising approach to cancer therapy, as it enables the delivery of therapeutic agents to the tumor site with higher selectivity and efficiency. Phytosomes are a nanotechnology-based drug delivery system conjugating plant extracts or phytoconstituents with phospholipids. This conjugation results in the formation of a complex with improved solubility, stability, and bioavailability. Phytosomes have been shown to enhance the pharmacokinetic profile of phytoactive compounds, allowing for better targeting and sustained release. Phytosomes of curcumin, resveratrol, and quercetin have demonstrated anticancer properties in various in vitro and in vivo models. Moreover, phytosomes have been used to deliver chemotherapeutic agents, such as paclitaxel, docetaxel, and camptothecin, with improved efficacy and reduced toxicity. Phytosome complexes offer a promising platform for cancer therapy due to their ability to enhance the bioavailability and efficacy of phytoactive compounds. Incorporating phytosomes in cancer therapy could lead to the development of more effective and less toxic treatments for different types of cancers. Further studies are needed to elucidate the mechanism of action of phytosomes and to optimize their formulation for clinical use.