Selenium binding protein 1 (SBP1) has been shown to bind selenium covalently and is expressed in a variety of tissues and cell lines. Selenium is incorporated into selenoproteins that have a wide range of pleiotropic effects, including its important function in prevention of cancer progression. Recent studies have revealed that SBP1 may not only exert tumor suppressive function, but also become a novel biomarker for predicting prognosis and guiding personalized therapeutic strategies. This paper briefly reviews the studies of SBP1 as a novel biomarker and tumor suppressor in the progression of various cancers.