Background and Objectives: Advanced prostate cancer is the second most frequently diagnosed malignancy and fifth leading cause of mortality in men worldwide. In India, the incidence is rapidly increasing as per the Indian Council of Medical Research report. This study aimed to estimate the serum levels of lipids, insulin, Insulin-like Growth Factor-1, prostate-specific antigen and testosterone and to identify their association with the risk of prostate cancer. Materials and Methods: This case-control study includes 100 individuals. Cases were 50 histologically confirmed prostate adenocarcinoma patients. 50 age -matched disease free controls were included. Mean ± standard deviation in all groups were compared using the unpaired Student’s t-test. Correlation analysis was used to determine the association between variables of interest and PSA, BMI among prostate cancer patients. Results: Prostate cancer cases have significant higher level of total cholesterol, LDL, PSA, insulin and insulin-like growth factor than controls, whereas HDL and testosterone was significantly higher in controls than prostate cancer cases. Insulin levels in patients (17.54±8.44) was significantly higher than controls (13.53±4.56). Insulin had significant negative correlation with testosterone. Conclusion: This study confirms the association between dyslipidemia and elevated serum insulin levels with increased prostate cancer risk.