In recent years, prostate cancer has been known to have an increasing incidence worldwide. In 2012, prostate cancer was recognized as the second most frequent cancer to occur in men and fifth leading cause of cancer mortality in men. It is known to affect one of every eight men in the world, and even more common in men above the age of 65. However, the long-term survival rate for an average cancer patient continues to decline, creating a need for therapies that could enhance survival rate with favorable advantages. With the minimal side effects and toxicity of the new treatments, it is obvious that these new treatments are the way forward in fighting cancer. This review elaborates the new therapy for prostate cancer treatment that has been developed in very recent times. The goal is not only to create awareness of these new treatments but also gives patients as well as doctors more treatment options. This review builds a foundation on the knowledge of cancer, importantly cancer immunology, and also forms groundwork majorly on prostate cancer, focusing on the mechanism of how immunotherapy could be a better choice over the previously common prostate cancer treatments, proposing a perspective on future directions in the treatment of prostate cancer.