Artificial intelligence (AI) applications are swiftly integrating into various healthcare domains, notably oncology. Like other technological advancements, AI developments present novel challenges beyond existing ethical and legal frameworks. In addition to grasping the technical aspects of AI, understanding its ethical and legal dimensions is vital for healthcare professionals and oncologists. This comprehension enables them to anticipate, prepare for, or propose solutions to potential issues in this domain. The primary ethical and legal concerns associated with AI applications include black-box algorithms, accountability, bias, transferability, trust, legality, legal risk, liability, data security, and autonomy. This review addresses these critical issues based on existing literature.