A method for selectively caching data in a computer network. Initially, data objects which are anticipated as being accessed only once or seldomly accessed are designated as being exempt from being cached. When a read request is generated, the cache controller reads the requested data object from the cache memory if it currently resides in the cache memory. However, if the requested data object cannot be found in the cache memory, it is read from a mass storage device. Thereupon, the cache controller determines whether the requested data object is to be cached or is exempt from being cached. If the data object is exempt from being cached, it is loaded directly into a local memory and is not stored in the cache. This provides improved cache utilization because only objects that are used multiple times are entered in the cache. Furthermore, processing overhead is minimized by reducing unnecessary cache insertion and purging operations. In addition, I/O operations are minimized by increasing the likelihood that hot objects are retained in the cache longer at the expense of infrequently used objects.