Previous studies have suggested that lycopene has cytotoxic effects in a variety of types of human cancer. An improved understanding of the mechanisms underlying the anticancer effects of lycopene may provide novel therapeutic targets for cancer treatment. PC3 cells were treated with different concentrations of lycopene for 24 and 48 h, the level of protein kinase B (AKT2) was detected by reverse transcription‑quantitative polymerase chain reaction (RT‑qPCR) and western blotting. Additionally, the expression levels of microRNA (miR)‑let‑7f‑1 were measured using RT‑qPCR. miR‑let‑7f‑1 function was analyzed using cell proliferation and apoptosis assays in gain‑ and loss‑of‑function experiments. It was observed that lycopene downregulated the expression of AKT2 and upregulated the expression of miR‑let‑7f‑1 in PC3 cells. Re‑introduction of miR‑let‑7f‑1 into PC3 cells was able to inhibit cell proliferation and induce apoptosis. Further investigation indicated that miR‑let‑7f‑1 targeted AKT2 in PC3 cells and upregulation of AKT2 could attenuate the effects induced by miR‑let‑7f‑1. The results of the current study indicate that miR‑let‑7f‑1 is involved in the anticancer effects of lycopene and serves an important role in the inhibition of prostate cancer progression through the downregulation of AKT2.