Background: The World Health Organization (WHO) declared a pandemic due to Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), the etiologic agent responsible for Coronavirus Disease 2019 (COVID-19). Although case numbers declined after the initial outbreak, Brazil experienced slight increases in COVID-19 cases in 2024 and 2025, underscoring the persistent need for effective therapeutic interventions. Recently, proxalutamide—an androgen receptor antagonist—has been proposed as a potential therapeutic agent against COVID-19, as supported by several clinical studies. Methods: In the present work, we aimed to elucidate the molecular interactions between proxalutamide and key proteins involved in the viral fusion and replication processes of SARS-CoV-2. Computational techniques, including molecular docking and molecular dynamics simulations, were employed. Results: Our analyses indicated a high success rate, with stable conformations and favorable binding affinity values for ACE2 (−8.90 kcal/mol) and TMPRSS2 (−9.28 kcal/mol), resulting in strong docking scores. Moreover, molecular dynamics simulations confirmed the stability of these complexes, as evidenced by consistent mean square deviation values, low structural flexibility, a stable radius of gyration, and maintained surface rigidity over a 100 ns simulation period. Conclusions: These combined docking and dynamics results suggest that proxalutamide interacts firmly with the active sites, indicating high binding affinity that may interfere with SARS-CoV-2 entry. Nevertheless, experimental validation and rigorous safety assessments are warranted to confirm this potential.