Caveolin-1 is the major structural protein in caveolae; small Omega-shaped invaginations within the plasma membrane. Caveolae are involved in signal transduction, wherein caveolin-1 acts as a scaffold to organise multiple molecular complexes regulating a variety of cellular events. Caveolin-1 has both tumour suppressor and oncogenic activities. However, recent evidence suggests a role for caveolin-1 in promoting cancer cell migration and metastasis with both loss and overexpression of caveolin-1 being described as a marker for progression in a variety of tumour types. Further studies are beginning to determine the molecular mechanisms by which caveolin-1 acts in promoting a metastatic phenotype. Targeting caveolin-1 expression may present a novel means of preventing metastasis. The purpose of this review is twofold: firstly, to survey the current knowledge of the contribution of caveolin-1 in promoting a metastasis, and secondly, to explore the viability of targeting caveolin-1 with novel therapeutics.