Cancer is the leading cause of death after cardiovascular disease. The primary etiologic agents for cancer include mutagens, toxins, free radicals, heavy metals, blood sugar, virus, radiations apart from many other factors including inflammation which can increase the risk of cancer development and progression. Shilajit is a blackish–brown coloured herbomineral medicine, collected from the high altitude mountains of many parts of the world. Shilajit refers to the humic matter that contains 60-80% of fulvic acid (FA) and humic acid (HA). The biological activity of Shilajit is mainly attributed to these humic compounds HA and FA. In this review we have focused on the cancer chemopreventive and therapeutic properties of Shilajit and humic compounds. Shilajit and HA possess anti-inflammatory, antioxidant, antimutagenic, antitoxic, antiviral, heavy metal chelating, antitumor, apoptotic and photo-protective properties. These properties make Shilajit useful agents for cancer therapy and prevention. In addition, Shilajit has no reported side effects and can be administered as a nutritive and rejuvenating tonic and combats age related problems.