Carotenoids are lipid soluble pigments found in various fruits and vegetables and are naturally produced in photoautotrophic plants. Various studies have investigated the properties of carotenoids to determine how they are able to mitigate numerous diseases, including cancer. Carotenoids present in human serum, including β-carotene, α-carotene, lycopene, β-cryptoxanthin, zeaxanthin, and lutein have demonstrated the ability to act as anticarcinogenic agents. Prevention of disease is often described to be more effective than treatment; as cancer impacts millions of lives globally, the role of carotenoids in the prevention of oncogenesis for numerous types of cancers have been extensively researched. This review provides an in-depth analysis of the structure and properties of carotenoids, as well as the identified and potential mechanisms by which carotenoids can act as a chemopreventative agent.