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Background: Dyslipidaemia has been proposed as a potential risk factor for breast cancer. This study aimed to evaluate the association between serum lipid profiles and breast cancer among women, comparing lipid levels between breast cancer patients and healthy controls. Methods: A hospital-based cross-sectional observational study was conducted at SMS Medical College and Hospital, Jaipur, from ethics committee approval until June 2024. The study included 100 breast cancer patients and 100 matched healthy controls. Inclusion criteria were individuals aged 18 years or older with informed consent, while exclusion criteria included critically ill patients, those with malignancies other than breast cancer, and those on lipid-lowering therapy. The lipid profile was assessed according to the National Cholesterol Education Program (NCEP) Adult Treatment Panel III (ATP III) guidelines. Data collection involved clinical examination, anthropometric measurements, and biochemical analysis of serum lipid levels. Results: The mean age of participants was 48.5 years for the Case Group and 45.92 years for the Control Group. Serum lipid profiles showed significantly higher levels of total cholesterol (TC), low-density lipoprotein cholesterol (LDL), and triglycerides (TG) in breast cancer patients compared to controls, with TC at 197 ± 42.2 mg/dl vs. 174.06 ± 38.46 mg/dl, LDL at 152.65 ± 32.57 mg/dl vs. 121.09 ± 24.56 mg/dl, and TG at 162.12 ± 15.64 mg/dl vs. 138.23 ± 22.99 mg/dl. High-density lipoprotein cholesterol (HDL) was significantly lower in breast cancer patients (36.0 ± 16.60 mg/dl vs. 50.60 ± 17.64 mg/dl). Subgroup analysis by age showed similar trends across different age groups. No significant differences were observed between premenopausal and postmenopausal women in lipid levels. Conclusion: Elevated serum lipid levels, particularly TC, LDL, and TG, are associated with breast cancer. Monitoring and managing lipid levels may offer potential benefits in breast cancer prevention and treatment strategies.