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Transcription factors (TFs) are key players in the regulation of gene transcription in mammalian cells. Although high‐throughput screening can be used to identify differentially expressed genes between comparable groups, the precision of the corresponding datasets is far from optimal. Here, we establish Target Finder of Transcription Factor (TFoTF), a method for the prediction of TF‐targeted genes from genomic and cancer‐related transcriptomic data. TFoTF can identify potential TF‐targeted genes in large cancer datasets and efficiently estimate correlations between TFs and their targeted genes with a significant level of specificity, sensitivity, and precision. Overall, TFoTF is an easy‐to‐use tool that can be utilized to generate testable hypotheses in the context of cancer research projects.