A basic metabolic characteristic of carcinogenesis, namely the Warburg effect, is defined by the preferred utilization of aerobic glycolysis for energy generation in cancer cells, even in the presence of oxygen. Here, rapid proliferation and carefully planned adaptation to fulfill biosynthetic, redox, and survival requirements of malignant transformation are byproducts due to this adjustment in energy metabolism. Aerobic glycolysis enables tumor cells to accumulate metabolic intermediates, i.e., essential for macromolecular synthesis, supports redox homeostasis through NADPH production, and modulates tumor microenvironment via acidifying extracellular pH. Thereby, it leads to the promotion of invasion and immune evasion. Further, the discovery of this phenomenon by Otto Warburg nearly a century ago laid the foundation for modern cancer metabolism research. Advances in molecular oncology have since elucidated the regulatory role of oncogenes (such as MYC, RAS, and PI3K), tumor suppressors (like p53 and LKB1), and transcriptional networks (e.g., HIF-1α) to enforce glycolytic dependency. Recent studies further highlight that the Warburg effect integrates with mitochondrial signaling, epigenetic modifications, and metabolic cross talk between cancer cells as well as stromal components to provide novel therapeutic opportunities. This book chapter explores biochemical, molecular, and physiological dimensions of the Warburg effect along with its mechanistic basis, role in tumor progression, and emerging strategies to exploit glycolytic addiction in cancer therapy.