Background: Cardiovascular diseases (CVDs) encompass a group of diseases that affect the heart and/or blood vessels, making them the leading cause of global mortality. In our study, we performed proteome‐wide Mendelian randomization (MR) and colocalization analyses to identify novel therapeutic protein targets for CVDs and evaluate the potential drug‐related protein side effects.Methods: We conducted a comprehensive proteome‐wide MR study to assess the causal relationship between plasma proteins and the risk of CVDs. Summary‐level data for 4907 circulating protein levels were extracted from a large‐scale protein quantitative trait loci (pQTL) study involving 35,559 individuals. Additionally, genome‐wide association study (GWAS) data for CVDs were extracted from the UK Biobank and the Finnish database. Colocalization analysis was utilized to identify causal variants shared between plasma proteins and CVDs. Finally, we conducted a comprehensive phenome‐wide association study (PheWAS) using the R10 version of the Finnish database. This study was aimed at examining the potential drug‐related protein side effects in the treatment of CVDs. A total of 2408 phenotypes were included in the analysis, categorized into 44 groups.Results: The research findings indicate the following associations: (1) In coronary artery disease (CAD), the plasma proteins A4GNT, COL6A3, KLC1, CALB2, KPNA2, MSMP, and ADH1B showed a positive causal relationship (p‐fdr < 0.05). LAYN and GCKR exhibited a negative causal relationship (p‐fdr < 0.05). (2) In chronic heart failure (CHF), PLG demonstrated a positive causal relationship (p‐fdr < 0.05), while AZGP1 displayed a negative causal relationship (p‐fdr < 0.05). (3) In ischemic stroke (IS), ALDH2 exhibited a positive causal relationship (p‐fdr < 0.05), while PELO showed a negative causal relationship (p‐fdr < 0.05). (4) In Type 2 diabetes (T2DM), the plasma proteins MCL1, SVEP1, PIP4K2A, RFK, HEXIM2, ALDH2, RAB1A, APOE, ANGPTL4, JAG1, FGFR1, and MLN demonstrated a positive causal relationship (p‐fdr < 0.05). PTPN9, SNUPN, VAT1, COMT, CCL27, BMP7, and MSMP displayed a negative causal relationship (p‐fdr < 0.05). Colocalization analysis conclusively identified that AZGP1, ALDH2, APOE, JAG1, MCL1, PTPN9, PIP4K2A, SNUPN, and RAB1A share a single causal variant with CVDs (PPH3 + PPH4 > 0.8). Further phenotype‐wide association studies have shown some potential side effects of these nine targets (p‐fdr < 0.05).Conclusions: This study identifies plasma proteins with significant causal associations with CVDs, providing a more comprehensive understanding of potential therapeutic targets. These findings contribute to our knowledge of the underlying mechanisms and offer insights into potential avenues for treatment.