PHLDA2 (pleckstrin homology-like domain, family A, member 2), is primarily found in the placenta and is known to regulate cell growth and apoptosis. It has also been linked to certain types of cancer, though its role in hepatocellular carcinoma (HCC) is unclear. To investigate further, we conducted a bioinformatic analysis, examining gene expression, prognostic function, potential pathways, the tumor microenvironment, and drug resistance. The analysis revealed that PHLDA2 expression generally increased in various tumors, including HCC, and was associated with worse survival rates. Additionally, PHLDA2 expression correlated positively with most immunosuppressive cells, such as tumor-associated macrophages and Tregs. Patients with elevated PHLDA2 expression tended to be resistant to anti-tumor medications. Overall, our study suggests that PHLDA2 may function as an oncogene and prognostic marker in HCC and other cancers, possibly contributing to an immunosuppressive microenvironment.