CO2 separation has been recognized as a potential approach to address the impacts of climate change resulting from greenhouse gas emissions. Efficient separation technologies are required to effectively remove CO2 from flue gases, enabling their widespread adoption. Membrane-based gas separation technology is much more compact, energy-efficient, and economical than other conventional technologies. In particular, polymeric membranes in hollow fiber configuration, though under development, are one of the next-generation, widely considered, promising technologies for CO2 separation from flue gases produced by fossil fuel combustion. Therefore, this work aims to prepare a scalable and high-performing Polyacrylonitrile (PAN) hollow fiber membrane via optimized synthesis parameters for efficient CO2 separation from flue gases. The scanning electron microscopy analysis reveals that there is a difference in morphology with the variation in synthesizing parameter of the prepared membranes. Also, the characterization results indicated that all the membranes had finger-like structures in their cross-section. The membranes underwent testing through pure gas experiments. The prepared HFMs showed high CO2 permeability of 91166 Barrer and good CO2/N2 selectivity of 4.4. Interestingly, the membranes showed stable long-term separation performance for more than 7 days with the simulated flue gas. Based on the results obtained so far, it can be concluded that the prepared hollow fiber membrane holds promise to separate CO2 from flue gases.