A sequential learning framework for text categorization based on Meta-cognitive Neural Network (McNN) is presented in this paper. Initially text documents are pre-processed and represented in the form of Term Document Matrix (TDM). Since the TDM is of high dimension, to reduce it to lower dimension Regularized Locality Preserving Indexing (RLPI) is used. Further, to categorize the text document, Meta-cognitive Neural Network (McNN) classifier is employed. To measure the effectiveness of the proposed framework, various experiments are conducted on standard benchmark Reuters-21578 dataset and used leave one out cross validation technique to assess the performance. The proposed framework performance is investigated against two well known neural network based classifiers: MLP (Multi Layer Perceptron) and RBF-NN (Radial Basis Function-Neural Network). The experimental results reveals that the McNN classifier uses less number of training documents for learning and it has less true error rate than other two neural network classifiers.