Six transmembrane antigen of prostate 2 (STEAP2) also known as the six transmembrane protein of prostate 1 (STAMP1) is a member of the metalloreductase family important in the metal reduction of copper and iron. In vitro and in vivo studies show that STEAP2 plays a key role in prostate cancer progression. STEAP2 is located on the plasma membrane of prostate cells and Golgi complex. It increases prostate cancer progression, controls cell proliferation, differentiation, and decreases apoptosis. Its knockdown from prostate cancer cells has been shown to reduce their invasive potential, increased apoptosis, and reduced migration that are responsible for oncogenesis and disease progression. Immunohistochemical staining significantly demonstrates its expression at the cell–cell junctions of prostate cancer cells. It is differentially expressed in normal and cancerous tissue making it a potential target for new therapeutic strategies for disease treatment. STEAP2 is expressed more than 10 times in normal prostate than in other tissues such as the brain and liver and is exponentially expressed in malignant prostate cancer cells. Their levels in these tissues are too low to have any functional significance. STEAP2 is highly expressed at all stages of prostate cancer and is androgen independent, a characteristic that is key in managing androgen-dependent and independent/advanced prostate cancer. Its unique and specific upregulation in cancerous prostate tissue at all stages is likely to make it an ideal therapeutic drug target.