Objective Limited clinical resources create barriers to quality management of cancer‐related distress. CaringGuidance After Breast Cancer Diagnosis is a web‐based, patient‐controlled, psychoeducational program of cognitive‐behavioral, coping and problem‐solving strategies aimed at early post‐diagnosis distress reduction without clinical resources. This study evaluated the feasibility of recruiting and retaining newly diagnosed women to 12 weeks of CaringGuidance and program acceptance. Methods Women with stage 0 to II breast cancer diagnosed within the prior 3 months were recruited from clinics and communities in four states, from 2013 to 2015 and randomized to 12 weeks of CaringGuidance plus usual care (n = 57) or usual care alone (n = 43). Recruitment, retention, and program use were tracked. Using standard and study‐derived measures, demographic and psychological variables were assessed at baseline and monthly and program satisfaction at 12 weeks. Results Of 139 women screened, 100 enrolled, five withdrew, and 12 were lost to follow‐up (83% retention rate). Total program engagement was positively associated with greater baseline intrusive/avoidant thoughts. Intervention participants (92%) believed CaringGuidance would benefit future women and was easy to use. Sixty‐six percent believed CaringGuidance helped them cope. Women used program content to change thoughts (49%) or behaviors (40%). Stress in the previous year was positively associated with reports that CaringGuidance was reassuring and helpful. Conclusions Feasibility and acceptance of CaringGuidance was demonstrated pointing to the program's potential as a cancer‐distress self‐management intervention. Future research will explore program feasibility and acceptability in other regions of the United States, leading to clinical implementation trials.