Key Points Question What are the effects of relabeling low-grade prostate cancer as a precancerous condition on prostate cancer mortality? Findings In this decision analytical model study, the number of prostate cancer deaths in the US avoided by relabeling compared with increased mortality was modeled. In the base case, relabeling would lead to 6-fold more annual prostate deaths avoided than caused (2835 vs 452), and relabeling reduced deaths in all reasonable modeling scenarios.