Facing the exponential number of Internet of Things (IoT) devices and the scarcity of available resources, next-generation wireless networks have to meet very challenging performance targets in terms of providing massive access and ensuring higher spectral efficiency. In this vein, Non-Orthogonal Multiple Access (NOMA) has been widely recognized as one of the advantageous techniques to handle the proliferation of the IoT. Nevertheless, from a security standpoint, enabling a user to decode the signals of the other users, while using Successive Interference Cancellation (SIC), raises serious concerns regarding confidentiality and vulnerability to malicious attacks. Meanwhile, conventional security paradigms, such as upper-layer encryption and sophisticated authentication mechanisms, require high computational complexity and additional processing, which impose an overwhelming burden on energy-efficient IoT devices. Alternatively, Physical layer Security (PLS) has sparked a significant interest as a promising complement to cryptographic techniques. The key idea of PLS is to avail wireless communication properties to secure communications without adding complex encryption mechanisms at higher layers. In this paper, we propose a PLS approach based on a network coding technique to prevent eavesdroppers from decoding users’ information transmitted through a downlink-based NOMA system. This results in correlating the packets to be transmitted with each other, making the interception of a single packet useless. We demonstrate that the eavesdropper’s decoding complexity increases exponentially with the sequence length, making the task intractable for relatively long ones.