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The transition to a circular economy (CE) highlights the role that eco-innovations can play in transforming production processes and consumption patterns toward a more sustainable model at the territorial level. This paper examines how the recycling and valorization of flax by-products can generate eco-innovations, and to what extent these innovations contribute to the emergence of a territorialized value chain in the Maritime Flanders territory, in Hauts-de-France. From a methodological perspective, the study begins with a theoretical exploration of the links between circular economy and eco-innovation. This is followed by a documentary analysis of the flax value chain in this territory to identify the eco-innovations resulting from the valorization of by-products. Three main outcomes are expected: (a) an inventory of the identified eco-innovations, (b) their classification according to their level of innovation maturity and intensity using the TRL (Technology Readiness Level) scale, and (c) an analysis of the combinations of these innovations that help explain the structuring of such a value chain.