This study is aimed to develop a novel edible coating based on Plantago major seed mucilage (PMSM) and Citrus limon essential oil (CLEO) to increase the shelf‐life of buffalo meat during cold storage. The CLEO was firstly isolated by the hydrodistillation method, and it contained mainly limonene (40.5%) and carene (15.4%) with remarkable antioxidant activity (55.7%, 63.8%, and 51.85% based on the DPPH‐radical scavenging, ABTS‐radical scavenging, and carotene‐linoleic acid bleaching tests, respectively) and antibacterial effect against some pathogenic and spoilage microorganisms. The CLEO (0%, 0.5%, 1%, 1.5%, and 2%) was then incorporated into PMSM solution to develop a novel CLEO‐loaded PMSM edible coating for improving the shelf‐life of buffalo meat. The edible coating was able to significantly reduce the progression of lipid oxidation (peroxide value) and microbial growth (total viable count, psychrotrophic bacteria, Escherichia coli, Staphylococcus aureus, and fungi) in buffalo meat during storage period of 10 days at 4°C in comparison with the control (noncoated sample). The meat hardness and sensory properties (i.e., odor, color, appearance, texture, and overall acceptability) were also maintained better upon edible coating applications. Based on the results, the CLEO‐rich PMSM edible coating could be applied as a new and effective preservative to improve the stability of meat products to lipid oxidation and microbial spoilage.