Cancer research is constantly evolving to yield successful innovations. A plethora of pre-clinical studies have illustrated the promising potential utility of parasites and parasite-derived molecules in cancer therapy. In this review, we underscore, for the first time, the possible multifaceted applications of parasites in the field of oncology, aiming to draw attention to the vital role of parasite-derived cancer therapy and offer novel insights for the evolution of advanced cancer therapeutics. Several studies have demonstrated that parasites offer a variety of strategies for cancer therapy. These include acting as immunotherapeutics such as cancer vaccines, therapeutic antibodies, adjuvants, immunomodulators, oncolytic agents, and NF-κB inhibitors. Additionally, they can be utilized in targeted therapy, gene therapy, and in combination with current cancer treatments to synergistically enhance their effectiveness. A notable strategy is parasites' ability to overcome tumor resistance to chemotherapy, a significant obstacle in cancer therapy. There is still much to explore about parasite-based anti-cancer therapies. With further research and the translation of parasitological discoveries into effective cancer interventions, parasites may hold the key to effectively treat cancer in the near future.