The one loop contribution to the lepton flavor violating decay $h^0rightarrow mutau$ of the SM-like neutral Higgs (LFVHD) in the 3-3-1 model with neutral lepton is calculated using the unitary gauge. We have checked in detail that the total contribution is exactly finite, and the divergent cancellations happen separately in two parts of active neutrinos and exotic heavy leptons. By numerical investigation, we have indicated that the one-loop contribution of the active neutrinos is very suppressed while that of exotic leptons is rather large. The branching ratio of the LFVHD strongly depends on the Yukawa couplings between exotic leptons and $SU(3)_L$ Higgs triplets. This ratio can reach $10^{-5}$ providing large Yukawa couplings and constructive correlations of the $SU(3)_L$ scale ($v_3$) and the charged Higgs masses. The branching ratio decreases rapidly with the small Yukawa couplings and large $v_3$.
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