AbstractHexagonal MnTe emerges as a critical component in designing magnetic quantum heterostructures, calling for a detailed study. After finding a suitable combination of exchange–correlation functional and corrections, this study within ab initio density functional theory uncovers an insulating state with a preferred antiferromagnetic (AFM) order. The exchange interaction strengths are computed to estimate the AFM ordering temperature via Monte Carlo calculations. These calculations and symmetry analysis reveal a large spin splitting in the system due to the AFM order without considering spin–orbit interaction, except in the kx‐ky plane. Critically examining the band dispersion and spin textures obtained from these calculations and comparing them with an insightful symmetry analysis and analytical model, a combined Rashba–Dresselhaus interaction in the kx‐ky plane, around the K point of the system, is confirmed. These results and insights would help design heterostructures of MnTe for technological applications.