Abstract: To address the structural contradiction between global capital expansion and resource-environmental constraints, this study, grounded in Marxist theory of ecological critique, aims to expand the ecological dimension of capital circulation theory and provide theoretical support for ecological civilization construction. By internalizing ecological restoration as an essential component of capital reproduction, this study constructs a "dual-cycle" model that accommodats both material and value cycles, and conducts case analyses of China's national park system and the "Two Mountains Bank" model. The analysis demonstrates that this model not only accomplishes a theoretical reconstruction from unidirectional critique to synergistic evolution but also validates through case practices that the synergy between material and value cycles can effectively promote the realization of ecological product value. Moreover, the cases also reveal that current practices remain constrained by practical bottlenecks such as financial dependency, data silos, and regulatory failures. Based on these findings, an "institutional-market" synergistic governance framework that integrates short-term regulation and long-term transformation is proposed to overcome these dilemmas. This further substantiates that deeply embedding ecological restoration into the entire capital circulation process is the critical pathway to bridge the rift in material metabolism, holistically promote ecological protection and high-quality development, and strengthen the governance system for ecological civilization construction.