Previous studies have demonstrated that caveolin 1 acts as a tumor suppressor in breast cancer, however, few studies have demonstrated that caveolin 1 also serves as a tumor promoter in breast cancer. In the present study, caveolin 1 small interfering RNA was used to knock down caveolin 1 expression in order to investigate the association between caveolin 1 and the proliferation and metastatic abilities of human breast cancer BT474 cells. The results revealed that cell proliferation, migration and invasion were attenuated by caveolin 1 knockdown in BT474 cells. Furthermore, caveolin 1 knockdown in BT474 cells arrested cells in the G0/G1 phase and decreased the number of cells in the S phase. In addition, caveolin 1 knockdown decreased the activation of the extracellular signal-regulated kinase 1/2 pathway and inhibited the expression of cell cycle-associated proteins (cyclin D1, c-Fos and β-catenin), whilst the expression of E-cadherin was increased. Furthermore, the protein expression of matrix metalloproteinase-2, -9 and -1 was also inhibited by caveolin 1 knockdown. In combination, these results demonstrated that caveolin 1 knockdown had a tumor suppressing effect on BT474 cells.