The transcription factor FoxO is a downstream target of PKB/Akt that regulates cell survival and proliferation. Phosphorylation of FoxO by Akt inhibits its own transcriptional function and thus promotes cell survival, growth and proliferation. Substantial evidence showed that FoxO plays vital roles in diverse cellular signaling pathways that are implicated in cancer. There are two means by which FoxO inhibited cell apoptosis and promoted cell growth. One means is to regulate the expression of members of mitochondrial Bcl12 family, Fas ligands and tumor necrosis factor related apoptosis inducing ligand (TRAIL). The other is to enhance the level of cyclin-dependent kinase inhibitors. In this paper, we reviewed the underlying mechanisms of the involvement of Akt/FoxO in the regulation of cell survival and growth in order to provide new options for anti-tumor therapy.