Hepatocellular carcinoma (HCC) is an aggressively malignant type of cancer with a complex pathogenesis. Multiple studies have identified that lncRNA HOXA11‑AS is involved in the development of HCC. Nevertheless, the pathological mechanisms of HOXA11‑AS in the development of HCC require further investigation. In the present study, the role and underlying mechanisms of HOXA11‑AS in HCC were examined. RT‑qPCR revealed that HOXA11‑AS expression was increased, while that of miR‑506‑3p was decreased in HCC tissues and cells compared with that in adjacent non‑tumor tissues and normal hepatic cells. Dual‑luciferase reporter assay and RNA pull‑down assay indicated that HOXA11‑AS directly interacted with miR‑506‑3p. miR‑506‑3p downregulation reversed the inhibitory effects of HOXA11‑AS deletion on cell proliferation, invasion and epithelial‑mesenchymal transition (EMT), as shown by CCK‑8 and Transwell assays, as well as western blot analysis. Bioinformatics analysis and dual‑luciferase reporter assay indicated that Slug was a target gene of miR‑506‑3p. The overexpression of Slug reversed the effects of HOXA11‑AS deletion on the viability, invasion and the EMT of HCC cells. Taken together, the present study demonstrates that HOXA11‑AS functions as an oncogene to promote the progression of HCC via the miR‑506‑3p/Slug axis, providing a therapeutic target for patients with HCC.