Ferroptosis, an iron‐dependent cell death characterized by lethal lipid peroxidation, is involved in chronic obstructive pulmonary disease (COPD) pathogenesis. Therefore, ferroptosis inhibition represents an attractive strategy for COPD therapy. Herein, we identified natural flavonoid scutellarein as a potent ferroptosis inhibitor for the first time, and characterized its underlying mechanisms for inhibition of ferroptosis and COPD. In vitro, the anti‐ferroptotic activity of scutellarein was investigated through CCK8, real‐time quantitative polymerase chain reaction (RT‐qPCR), Western blotting, flow cytometry, and transmission electron microscope (TEM). In vivo, COPD was induced by lipopolysaccharide (LPS)/cigarette smoke (CS) and assessed by changes in histopathological, inflammatory, and ferroptotic markers. The mechanisms were investigated by RNA‐sequencing (RNA‐seq), electrospray ionization mass spectra (ESI‐MS), local surface plasmon resonance (LSPR), drug affinity responsive target stability (DARTS), cellular thermal shift assay (CETSA), and molecular dynamics. Our results showed that scutellarein significantly inhibited Ras‐selective lethal small molecule (RSL)‐3‐induced ferroptosis and mitochondria injury in BEAS‐2B cells, and ameliorated LPS/CS‐induced COPD in mice. Furthermore, scutellarein also repressed RSL‐3‐ or LPS/CS‐induced lipid peroxidation, GPX4 down‐regulation, and overactivation of Nrf2/HO‐1 and JNK/p38 pathways. Mechanistically, scutellarein inhibited RSL‐3‐ or LPS/CS‐induced Fe2+ elevation through directly chelating Fe2+. Moreover, scutellarein bound to the lipid peroxidizing enzyme arachidonate 15‐lipoxygenase (ALOX15), which resulted in an unstable state of the catalysis‐related Fe2+ chelating cluster. Additionally, ALOX15 overexpression partially abolished scutellarein‐mediated anti‐ferroptotic activity. Our findings revealed that scutellarein alleviated COPD by inhibiting ferroptosis via directly chelating Fe2+ and interacting with ALOX15, and also highlighted scutellarein as a candidate for the treatment of COPD and other ferroptosis‐related diseases.