Long non‑coding RNAs (lncRNAs) are mainly involved in diverse biological processes in human malignancies. The expression profile and underlying mechanism of the lncRNA growth arrest specific transcript 5 (GAS5) in colorectal cancer (CRC) are poorly understood. Here, we investigated the role of GAS5 in human CRC tissues. lncRNA GAS5 was specifically downregulated in CRC tissues and cell lines. Reduced GAS5 levels were significantly associated with advanced clinical stage and lymph node metastasis in CRC. GAS5 overexpression suppressed CRC cell proliferation and promoted cellular apoptosis. A dual‑luciferase reporter assay showed that GAS5 could negatively regulate the expression of microRNA (miR)‑182‑5p. Upregulated miR‑182‑5p abrogated the effect of GAS5 overexpression on CRC cell proliferation and apoptosis. Furthermore, GAS5 positively regulated the expression of FOXO3a in CRC cells. Taken together, these findings suggest that overexpression of the lncRNA GAS5 inhibits cell proliferation and promotes apoptosis by inhibiting miR‑182‑5p expression, and thus could be a therapeutic target in CRC.