Eicosanoids regulate the pathologies of inflammation and carcinogenesis and limiting their production by inhibiting group IVA cytosolic phospholipase A2 (cPLA2α) is a potential approach to cancer treatment. Here we report the synthesis of a new generation of thiazolyl ketone inhibitors of cPLA2α starting from compound GK470 (AVX235), and the discovery of a more potent and selective lead, GK420 (AVX420), with significant chemotherapeutic properties. A cancer cell line screen revealed the selective growth inhibitory effects of AVX420 in acute leukemias, uncovering a novel function of cPLA2α to promote cancer cell survival during oxidative stress by epigenetic control of tumour suppressor gene transcription. Moreover, we showed that in sensitive cells, AVX420 increased intracellular reactive oxygen species (ROS) and instigated a transcriptional response resulting in cell death. Our study suggests AVX420 has the potential to treat acute leukemias, and other cancers with specific adaptations to a high ROS burden.