The present invention provides a plasminogen fragment with the activity to inhibit tumor metastasis and growth, a process for preparing said fragment and an agent for inhibiting tumor metastasis and growth comprising said fragment as an active ingredient. The plasminogen fragment of the present invention is prepared from a elastase lysate of Lys-Plasminogen, which is produced by treating a natural plasminogen with plasmin, and preferably exhibits a strong heparin binding activity. The agent for inhibiting tumor metastasis and growth comprising the plasminogen fragment as an active ingredient of the present invention is useful for clinically treating solid cancers such as lung cancer or colon cancer.