Abstract: Targeted protein degradation (TPD) technologies face significant challenges, including insufficient targeting specificity and low delivery efficiency. The targeted enrichment properties of nanomaterials offer a novel strategy to overcome these bottlenecks. Mesoporous bioactive glass (MBG), renowned for its high biocompatibility and drug delivery potential, has not yet been thoroughly explored for its feasibility as a TPD vehicle. In this study, fluorescein isothiocyanate (FITC) labeling and the biotin-avidin system were employed to evaluate the subcellular localization of MBG and its potential as a protein degradation carrier. Furthermore, the ferroptosis-inducing capability of Fe-doped MBG was investigated. The results demonstrated that MBG facilitates the internalization of target proteins and degradation in lysosomes, as exemplified by the degradation of programmed cell death ligand 1. Building on this, MBG was shown to deliver iron ions into lysosomes, inducing ferroptosis. This study is the first to reveal the dual functionality of MBG in both targeted protein degradation and ferroptosis induction, providing an innovative “ protein degradation-ferroptosis” spatiotemporally controllable synergistic strategy for cancer therapy.