Photoacoustic imaging (PAI), also known as optoacoustic imaging, is a rapidly growing imaging modality with potential in medical diagnosis and therapy monitoring. This paper focuses on the techniques of prostate PAI and its potential applications in prostate cancer detection. Transurethral light delivery combined with transrectal ultrasound detection overcomes light scattering in the surrounding tissue and provides optimal photoacoustic signals while minimizing invasiveness. While label-free PAI based on endogenous contrast has promising potential for prostate cancer detection, exogenous contrast agents can further enhance the sensitivity and specificity of prostate cancer PAI. Further in vivo studies are required in order to achieve the translation of prostate PAI to clinical implementation. The minimal invasiveness, relatively low cost, high specificity and sensitivity, and real-time imaging capability are valuable advantages of PAI that may improve the current prostate cancer management in clinic.