Rapid progress in the field of adult cells reprogramming back into a stem cell-like fate revealed shared mechanisms of action with tumoural reprogramming. A hallmark of stem cells – self-renewal and differentiation potential – seems to be tightly interlaced with large proliferation capacity and cellular plasticity of cancer cells. In this review, we briefly summarise the core transcription factors critical to maintenance of ES cell signature and overexpressed in many types of cancer, as well as signalling pathways involved in both induced pluripotency and oncogenesis, with particular regard to the role of tumour suppressor p53.