The oilseed flax (linseed)(Linum usitatissimum L.)is predominantly the source of valuable oil, in which the
most appreciated are omega-3 fatty acids. The extensive biochemical analysis of linseed oil resulted in the
identification of its other components with potential application in improvement of human health. The
focus is now on them and they are of particular interestfor human nutrition, cosmetic and pharmaceutical
industry. Linseed plant also provides seedcakes (linseed expeller), fibers and shives as by-products. The
recent development of analytical methods allowed to determine several valuable compounds in these
materials have made them thereby more appealing to industry. Besides lignocellulose biomass, which
is mainly used for components of polymer composites or liquid/gas fuel production, phenylpropanoids
and terpenoids are the major constituents that contribute to bioactive properties of the linseed byproducts.
Antibacterial, antifungal, anticancer, and anti-inflammatory activities are assigned to these
compounds. These findings led to the diversification of linseed plant application. This review outlines
oil, seedcake, and fiber and shives biochemistry and describes their potential application. It is expected
that the development of value-added products from linseed plant might greatly improve the economic
viability of its cultivation. Moreover, the use of linseed plant as a whole to produce innovative industrial
products would enhance the sustainability of natural resources.