This manuscript is aimed at preparing a scientific report on anticancer drugs, covering pharmacological aspects, approved by the FDA in the year 2023. This article is anticipated to serve as a handy document of interest for oncologists, patients as well as academicians. The manuscript was prepared by studying the pre-clinical and clinical data available in the public domain specifically on the website of the USFDA, Clinical Trials, National Library of Medicine, and other sources. The FDA reports were comprehensively reviewed where specific information on drug approvals, safety evaluations, pharmacokinetics, and regulatory guidelines are extensively documented. Other supplementary resources, including academic journals, institutional publications, and online resources like Google Scholar, Scopus, and Web of Science were also consulted to enrich the analysis and ensure that the findings are current and relevant. The FDA approved 55 novel drug therapies including 29 new molecular and 26 new biological entities. About 29% (16 out of 55) of these newly FAD-approved drugs have been prescribed for various cancers such as locally progressed or metastatic breast cancer, relapsed or refractory multiple myeloma, prostate cancer, non-Hodgkin lymphoma, acute myeloid leukemia, and nasopharyngeal carcinoma. This manuscript covering pharmacological aspects such as therapeutic effects, approved dose, mechanisms of action, pharmacokinetics, adverse effects, contraindications, and safety in special cases like pregnant, lactating, pediatric, and geriatric patients of FDA-approved anticancer drugs shall be of immense importance for researchers, academician, oncologists, and cancer patients.