According to the current concept of carcinogenesis, neoplastic transformation consists of multistep accumulations of adverse genetic and epigenetic events. p53 is a transcription factor that regulates cellular response to diverse forms of stress through a complex network which monitors genome integrity and cell homeostasis. Mutant p53 loss-of-function, dominant-negative, and gain-of-function properties have been implicated in the development of a wide variety of human cancers, and it is generally accepted that p53 is a component in biochemical pathways central to human carcinogenesis. Study of p53 has come to the forefront of cancer research, and detection of its abnormalities during the development of tumors may have diagnostic, prognostic, and therapeutic implications. In this review, we focus on recent research on overexpression of mutant p53 in human cancer, with an emphasis on mutant p53 regulation, gain of function of mutant p53 in transcriptional effects, and the diagnostic, prognostic, and predictive value of p53 overexpression in human cancer.