Long non-coding RNA (lncRNA) may contribute to the initiation and progression of tumor. In this study, we first systematically compared lncRNA and mRNA expression between GBM and paired normal brain tissues using microarray data. We found 27 lncRNA and 82 mRNA significantly up-regulated in GBM, as well as 198 lncRNA and 285 mRNA significantly down-regulated in GBM. We identified 138 co-expressed lncRNA-mRNA pairs from these differentially expressed lncRNA and genes. Subsequent pathway analysis of the lncRNA-paired genes indicated that EphrinB-EPHB, p75-mediated signaling, TNF alpha/NF-κB, and ErbB2/ErbB3 signaling pathways might be altered in GBM. Specifically, lncRNA RAMP2-AS1 had significant decrease of expression in GBM tissues and showed co-expressional relationship with NOTCH3, an important tumor promoter in many neoplastic diseases. Our follow up experiment indicated that (1) an overexpression of RAMP2-AS1 reduced GBM cell proliferation in vitro and also reduced GBM xenograft tumors in vivo; (2) NOTCH3 and RAMP2-AS1 co-expression rescued the inhibitory action of RAMP2-AS1 in glioblastoma cells; and (3) RNA pull-down assay revealed a direct interaction of RAMP2-AS1 with DHC10, which may consequently inhibit, as we hypothesize, the expression of NOTCH3 and its downstream signaling molecule HES1 in GBM. Taken together, our data revealed that lncRNA expression profile in GBM tissue was significantly altered; and RAMP2-AS1 might play a tumor suppressive role in GBM through an indirect inhibition of NOTCH3. Our results provided some insights into understanding the key roles of lncRNA-mRNA co-regulation in human GBM and the mechanisms responsible for GBM progression and pathogenesis.