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Biobanks have become critical infrastructures for cancer research, supporting prevention, early detection, therapy development, and follow-up studies. Over the past three decades, cancer biobanks in Europe have expanded from local sample collections to a coordinated network profoundly embedded in international research activities and initiatives. This narrative review is based on a targeted literature and document search in PubMed, Scopus, and Web of Science, as well as European Commission portals and infrastructure websites (1995–2025). Keywords included cancer biobank , BBMRI-ERIC , Horizon Europe , governance , GDPR , interoperability . Sources were screened for relevance to European cancer biobanking initiatives, infrastructures, and governance frameworks. The analysis highlights the role of major European initiatives (FP5–FP9, Horizon Europe, Cancer Mission, Europe’s Beating Cancer Plan) and infrastructures (Biobanking and BioMolecular Resources Research Infrastructure—European Research Infrastructure Consortium [BBMRI-ERIC], canSERV, UNCAN.eu) in shaping cancer biobanking. Achievements include the establishment of large transnational cohorts, the provision of more than 400 oncology services, and growing interoperability standards. Persistent challenges relate to data protection (General Data Protection Regulation), consent management, interoperability (Minimum Information About Biobank Data Sharing and Findable, Accessible, Interoperable, Reusable principles), sustainability, and translation into clinical practice. Cancer biobanks are irreplaceable entities of European cancer research. Their future lies in strengthening governance, ensuring long-term sustainability, enhancing interoperability, and engaging patients and stakeholders. Cancer biobanks contribute to fostering innovation and defining future research. BBMRI-ERIC remains the pivotal gateway, enabling individual biobanks to integrate into large-scale European and international research efforts.