The roles of long noncoding RNA (lncRNA) MCF2L‐AS1 have been identified in colorectal cancer, however, its roles in lung cancer progression have never been revealed. Here, we found that lncRNA MCF2L‐AS1 was highly expressed in lung cancer tissues and cells, especially in non‐small cell lung cancer (NSCLC). Functional experiments showed that MCF2L‐AS1 knockdown suppressed the cancer stem cell (CSC)‐like traits of NSCLC cells through qRT‐PCR, western blot, tumor‐sphere formation, and ALDH activity detection. Additionally, bioinformatic assay combined with RNA pull down and luciferase reporter analysis confirmed that MCF2L‐AS1 downregulated miR‐873‐5p level. Furthermore, miR‐873‐5p expression exhibited a lower level in lung cancer tissues and cells, and a negative correlation with MCF2L‐AS1 expression in lung cancer tissues. Moreover, miR‐873‐5p inhibition partially reversed the suppression of MCF2L‐AS1 on the CSC‐like traits on NSCLC cells. Thus, this work identifies a novel MCF2L‐AS1/miR‐873‐5p regulatory axis responsible for the CSC‐like traits of NSCLC cells.