To evaluate the prognostic value of serum alpha-fetoprotein (AFP-L3) and Des-γ-carboxy prothrombin (DCP) in advanced primary liver cancer (PLC) undergoing combined treatment with Sorafenib and transarterial chemoembolization (TACE). This retrospective analysis included 82 patients with advanced PLC treated at the Second Affiliated Hospital, Guangzhou Medical University from January 2018 to January 2020. The patients were divided into an observation group (41 cases) and a control group (41 cases) based on their treatment method. The control group received TACE, while the observation group received a combination of Sorafenib and TACE. Both groups were evaluated after 12 weeks of treatment. Serum AFP-L3 and DCP levels were measured using a chemiluminescence immunoassay with magnetic particles. Short-term efficacy was compared between the two groups after 12 weeks of treatment. Additionally, Karnofsky Performance Status (KPS) scores, serum AFP-L3 and DCP levels before and after 12 weeks of treatment, and the survival rate after 2 years of follow-up were recorded. Serum AFP-L3 and DCP levels were compared between surviving and deceased patients. The objective response rate in the observation group (68.29%) was higher than in the control group (46.34%) (P<0.05). KPS scores in both groups were significantly higher 12 weeks post-treatment compared to pre-treatment (P<0.05); the observation group had higher post-treatment KPS scores than the control group (P<0.05). Serum AFP-L3 and DCP levels were reduced in both groups after 12 weeks of treatment compared to pre-treatment levels (P<0.05). However, post-treatment serum AFP-L3 and DCP levels were lower in the observation group compared to the control group (both P<0.05). After 2 years of follow-up, the survival rate was higher in the observation group compared to the control group (P<0.05). AFP-L3 and DCP levels were higher in deceased patients compared to surviving patients after 2 years of follow-up (both P<0.05). Combination therapy with Sorafenib and TACE is effective for patients with advanced PLC, reducing AFP-L3 and DCP levels and improving patient survival rates. Additionally, higher levels of serum AFP-L3 and DCP are associated with poor prognosis.