RNA-binding protein tristetraprolin (TTP) plays a fundamental role in various physiological and pathological processes including differentiation, reprogramming, metabolism, proliferation, pluripotency, tumorigenesis and immunity. Due to its ability to bind and target ARE-containing mRNAs for rapid degradation, TTP down-regulates the expression of a mass of critical genes, thereby functioning as cancer suppressor gene. The loss of TTP has been reported in several human cancers and is relevant to poor prognosis. Recent research shows that TTP also has an emerging significant role in immunity. The aim of this paper is to provide an overview of various roles of TTP in human cancers and immunity. We summarize TTP deficiency in several cancers and discuss that the lack of TTP can influence tumor progression at different aspects such as promoting cancer cell proliferation; accelerating cell cycle; improving survivability and resisting cell death; inducing angiogenesis; activating invasion and metastasis; inducing epithelial-mesenchymal transition; and deregulating cellular energetics. We also pay attention to novel understanding of the relationship between TTP and immunity. Finally, due to its vital role, the disorder of TTP in both cancer and immune cells receives increasing attention and we overview current thinking about regulatory mechanisms of TTP itself expression. This knowledge may contribute to TTP becoming a diagnostic marker for cancer or immune-related diseases and a possible therapeutic target.