The role of theranostics in cancer management is growing so is the selection of vectors used to deliver these modalities to cancer cells. We describe biological evaluation of a novel theranostic agent targeted to microtubules. Methyl N‐[5‐(3′‐[131I]iodobenzoyl)‐1H‐benzimidazol‐2‐yl]carbamate (1) and methyl N‐[5‐(3′‐[125I]iodobenzoyl)‐1H‐benzimidazol‐2‐yl]carbamate (2) were synthesized from a common precursor 3′‐stannylated derivative (4). Antiproliferative effects and radiotoxicity of 131I‐labeled β‐particle emitting 1 were examined in vitro in human neuroblastoma and glioblastoma cells lines. The therapeutic potential of 1 was also examined in a subcutaneous mouse model of human glioblastoma U‐87 MG. Compound 1 at the extracellular radioactive concentration of 0.35 MBq/mL, easily achievable in vivo, kills >90% of neuroblastoma cells and >60% glioblastoma cells as measured in a clonogenic assay. D10 doses established for 1 indicate that as few as 3,000 decays are sufficient to kill 90% of BE(2)‐C cells. Even U‐87 MG cells, the least sensitive of the tested cell lines, require <20,000 decays of intracellular 131I to reduce number of clonogenic cells by 90%. Biodistribution studies of 2 delivered either intratumorally or intraperitoneally show a similar tissue distribution for both routes of the drug administration. The whole body clearance half‐lives were on average 6 hr. Intratumor administration of 1 produces significant tumor growth delay. After a single dose of 8.4 ± 0.3 MBq of compound 1, the tumor doubling times were 3.2 ± 0.1 and 7.9 ± 0.6 days in control and treated mice, respectively. Methyl N‐[5‐(3′‐radiohalobenzoyl)‐1H‐benzimidazol‐2‐yl]carbamates have properties compatible with a theranostic approach to cancer management.