Background: Long noncoding RNA (lncRNA) PEBP1P2 has been shown to suppress the proliferation of vascular smooth muscle cells, but its role and underlying mechanisms in the development of clear cell renal cell carcinoma (ccRCC) remain largely unclear. Methods: Gene expression profiling interactive analysis (GEPIA) database was used to analyze the aberrant expression of lncRNAs in ccRCC tissues. Expression of RNAs and proteins was detected using quantitative reverse transcription polymerase chain reaction (qRT-PCR) and western blotting, respectively. Ectopic expression of PEBP1P2 and miR-27a-3p was performed by pcDNA3.1 vector and miR-27a-3p mimics, respectively. Knockdown of PEBP1 mRNA was conducted by PEBP1 siRNA. Cell proliferation, migration, and invasion were analyzed using a CCK8 reagent and a trans-well assay, respectively. The sponge of PEBP1P2 to miR-27a-3p was investigated using Luciferase report system and RNA pull-down assays. Results: PEBP1P2 expression was decreased in ccRCC tissues compared with that in normal tissues and correlated with the size, TNM stage, and lymph node metastasis of the tumors, as well as the poor survival rates of ccRCC patients. Functionally, the enforced expression of PEBP1P2 inhibited the ability of ccRCC cells to proliferate, migrate, and invade in vitro . Mechanistically, PEBP1P2 suppressed the biological functions of ccRCC cells via increasing the mRNA and protein expression of PEBP1 and their expression had a positive correlation in ccRCC tissues. Furthermore, PEBP1P2 upregulated PEBP1 expression through acting as a competing endogenous RNA (ceRNA) to sponge miR-27a-3p, which directly target PEBP1 mRNA 3’UTR. Moreover, miR-27a-3p mimics rescued the decrease in the ability of ccRCC cells to proliferate, migrate, and invade mediated by PEBP1P2. Conclusion: Our findings indicated that PEBP1P2 suppressed ccRCC cell proliferation via regulating the miR-27a-3p/PEBP1 signal, suggesting that the PEBP1P2-miR-27a-3p/PEBP1 axis may be a potential therapeutic target for ccRCC.