Significance Whereas the role of the ubiquitin system in protein degradation is well established, little is known regarding the regulation of its own components, including its catalytic arm, the 26S proteasome. Here we show that in stressed mammalian cells, the proteasome is targeted by autophagy, which requires site-specific ubiquitination of its ubiquitin receptors. The process is mediated by the p62/SQSTM1 adapter and requires its ubiquitin-associated domain. Independently, p62 serves also as a shuttling protein for ubiquitinated substrates, using its PB1 domain. This places p62 in a pivotal position where under certain conditions it binds to the proteasome as a protease, whereas in other conditions it recognizes the proteasome as a prey. The regulation of this intricate “decision making” process remains elusive.