miR498 is a non coding RNA located intergenically in 19q13.41. Due to its predicted targeting of several genes involved in control of cellular growth, we examined the expression of miR498 in cancer cell lines and a large cohort of patients with colorectal cancer. Two colon cancer cell lines (SW480 and SW48) and one normal colonic epithelial cell line (FHC) were recruited. The expression of miR498 was tested in these cell lines by using quantitative real-time polymerase chain reaction (qRT-PCR). Tissues from 80 patients with surgical resection of colorectum (60 adenocarcinomas and 20 non-neoplastic tissues) were tested for miR498 expression by qRT-PCR. In addition, an exogenous miR498 (mimic) was used to detect the miRNA’s effects on cell proliferation and the cell cycle events in SW480 using MTT calorimetric assay and flow cytometry respectively. The colon cancer cell lines showed reduced expression of miR498 compared to normal colonic epithelial cell line. Mimic driven over expression of miR498 in the SW480 cell line resulted in reduced cell proliferation and increased proportions of G2-M phase cells. In tissues, miR498 expression was too low to be detected in all colorectal adenocarcinomas compared to non-neoplastic tissues. To conclude, the down regulation of miR498 in colorectal cancer tissues and the direct suppressive cellular effect noted in cancer cell lines implies that miR498 has some direct or indirect role in the pathogenesis of colorectal cancers.