In this paper, an active vibration control of a tensioned, elastic, axially moving string is investigated. The dynamics of the translating string are described with a non-linear partial differential equation coupled with an ordinary differential equation. A right boundary control to suppress the transverse vibrations of the translating continuum is proposed. The control law is derived via the Lyapunov second method. The exponential stability of the closed-loop system is verified. The effectiveness of the proposed control law is simulated.