Patients with HCC development during NUC therapy were significantly older (age ≥50 years) (p = 0.026), had higher pretreatment serum HBV DNA levels (≥4 × 105 IU/mL) (p = 0.036) and AFP levels (≥8 ng/mL) (p = 0.004), and had lower albumin levels (<3 g/dL) (p = 0.033). Here, AFP is linked to hepatocellular carcinoma.