Objective: To analyze the differential diagnosis efficiency of intravoxel incoherent motion (IVIM) model histogram parameters for prostate cancer (PCa) and benign prostatic hyperplasia (BPH). Methods: The clinical data of 90 patients with clinically suspected PCa but without hormone therapy or radiotherapy who underwent multiparametric MRI (mpMRI) examination were retrospectively analyzed. The enrolled patients were classified into the PCa group and the BPH group based on pathological results. Histogram parameters such as the pseudo-diffusion coefficient (), quantitative diffusion coefficient (D), apparent diffusion coefficient (ADC), and perfusion fraction (f) were obtained, and differences in these parameters were compared. The diagnostic efficiency of each parameter in differentiating PCa from BPH was analyzed by drawing receiver operating characteristic (ROC) curves. Results: The mean value, 75th percentile, 90th percentile, and maximum value of D in the PCa group were lower than those in the BPH group (P<0.05), and the minimum value and 10th percentile of D were also lower (P<0.05). The mean value, main percentiles, and kurtosis of f were lower in the PCa group than in the BPH group (P<0.05). The minimum value, main percentiles, and maximum value of ADC in the PCa group were lower, while kurtosis was higher compared to the BPH group (P<0.05). The areas under the curve (AUCs) of the mean value of D, minimum value of D*, mean value of f, and 50th percentile of ADC were significantly higher (P<0.05). Conclusion: IVIM model histogram parameters have significant advantages in identifying PCa and BPH, providing a valuable reference basis for clinical diagnosis.