In this study, a 2.45 GHz microwave source and a surfatron were used, coupled with a T-shaped quartz combustor, to investigate the role of a nonthermal microwave argon plasma jet on the plasma-assisted ignition and flameholding of a premixed ethylene/air mixture. A modified U-shaped plot of the minimum plasma power required for ignition versus fuel equivalence ratio was obtained, whereby the plasma power required for plasma-assisted ignition decreased with increase in fuel equivalence ratios in the range 0.2-0.6, but for fuel equivalence ratios of 0.7 and above, the plasma power required for ignition remained fairly constant throughout. It was observed that leaner fuel/air mixtures were more sensitive to heat losses to the surrounding and this sensitivity decreased with increase in the fuel equivalence ratio. Comparison with results obtained from previous studies suggested that the mixing scheme between the plasma and the premixed fuel/air mixture and the energy density of the fuel used played an important role in influencing the minimum plasma power required for ignition with the effect being more pronounced for near stoichiometric to rich fuel equivalence ratios (0.7-1.4). Flame images obtained showed a dual layered flame with an inner white core and a bluish outer layer. The images also showed an increased degree of flameholding (tethering of the flame to the combustor orifice) with increase in plasma power. The concurrency of the dual peaks in the emission intensity profiles for OH(A), CH(A), C-2(d), and the rotational temperature profiles obtained via optical emission spectroscopy along with the ground state OH(X) number density profiles in the flame using cavity ringdown spectroscopy led to the proposal that the mechanism of plasma-assisted flameholding in ethylene/air flames is predominantly radical dependent with the formation of an inner radical rich flame core which enhances the ignition and stabilization of the surrounding coflow.