Prostate cancer (caP) is a major public health problem. Many groups have attempted to identify prognostic risk factors to early detect caP and to identify who will need active treatment. Since the introduction of prostate specific antigen (PSA), diagnosis of caP has increased even as mortality for prostatic cancer has declined. Using current recommended guidelines, the PSA test suffers from both of limited specificity and sensitivity. With the aim to improve early detection of prostatic cancer the volume adjusted PSA, PSA isoforms and PSA kinetics have been investigated. Recently, technological advances in molecular assays have led to the discovery of new markers with high specificity. Further, proteomic array profiling and DNA methylation assays could provide for more accurate diagnosis and prognosis. Current evidence suggests that no single marker is likely to achieve the desired level of diagnostic and prognostic accuracy: future research should focus on validation of already existing biomarkers and the discovery of new markers to identify men with aggressive prostate cancer and to predict outcomes after therapies.