When it comes to precision oncology, proteogenomics may provide better prospects to the clinical characterization of tumors, help make a more accurate diagnosis of cancer, and improve treatment for patients with cancer. This perspective describes the significant contributions of The Cancer Genome Atlas and the Clinical Proteomic Tumor Analysis Consortium to precision oncology and makes the case that proteogenomics needs to be fully integrated into clinical trials and patient care in order for precision oncology to deliver the right cancer treatment to the right patient at the right dose and at the right time. Multiomics approaches that collectively integrate proteomics and genomics provide new layers into our understanding of the mechanisms of tumorigenesis across diverse cancer types and patients and provide the path towards treatment through rationalized precision oncology.