Long noncoding RNAs (lncRNAs) play critical roles in the pathogenesis of cardiovascular diseases, especially in myocardial infarction (MI). However, the underlying molecular mechanism of how lncRNA involves and affect MI still remains unclear. This study aimed to investigate the expression of lncRNA growth arrest‐specific transcript 5 (GAS5) and its effects on myocardial cells' proliferation, cell cycle, and apoptosis. The possible mechanisms involved in GAS5, calmodulin 2 (CALM2), and microRNA (miR)‐525‐5p were also explored. The messenger RNA (mRNA) level of CALM2, GAS5, and miR‐525‐5p in postmyocardial infarction (MI) and normal cells were examined by quantitative real‐time polymerase chain reaction (RT‐qPCR). Western blot analysis assay was conducted to detect the protein levels of CALM2. The changes of cell cycle/apoptosis and cell viability of post‐MI myocardial cells (PMMC) were determined by flow cytometry analysis and MTT (3‐(4,5‐dimethyl‐2‐thiazolyl)‐2,5‐diphenyl‐2H‐tetrazolium bromide) assay after knockdown of GAS5 or CALM2, respectively. Dual luciferase reporter assay and RNA‐binding protein immunoprecipitation (RIP) assay were performed to verify the targeting relationship between miR‐525‐5p and GAS5, CALM2 in myocardial. Hypoxic preconditioning was performed in normal cells, which constructed a simulated MI environment, and the effect of GAS5 on cardiomyocyte apoptosis was detected. Our data showed that the expression of GAS5 and CALM2 in PMMC was significantly upregulated, while the expression of miR‐525‐5p was downregulated. Overexpression of GAS5 and CALM2 profoundly promoted the apoptosis of myocardial cell. However, the proliferation of myocardial cell was inhibited by the upregulation of GAS5 and CALM2. Moreover, GAS5 was proved to be the target of miR‐525‐5p and GAS5 downregulated the expression of miR‐525‐5p and CALM2. In addition, lncRNA GAS5 promotes MI, while CALM2 induced MI can be reversed by miR‐525‐5p. These data suggested that lncRNA GAS5 promoted the development and progression of MI via targeting of the miR‐525‐5p/CALM2 axis and it has the potential to be explored as a therapeutic target for the treatment of MI in the future.