We present analysis of the XMM-Newton spectrum of the radio-loud narrow-line quasar 3C 234. The ultra-flat (Gamma~0.08) X-ray continuum measured by ASCA is shown to be the result of heavy absorption with Nh>10e23 cm-2. The soft X-ray emission is dominated by a wealth of emission lines as usually observed in most of low-luminosity obscured AGN. We also report the discovery of a narrow Fe K line at 6.4 keV (EW~200 eV). 3C 234 therefore appears as one of the best examples of a genuine "big cousin" of a Seyfert 2 galaxy observed so far. Furthermore, the XMM-Newton image reveals the remarkable presence of X-ray emission associated with the radio jet extending ~120 kpc from the nucleus.