The study aims to analyze the value chain of Cavendish Banana products grown in Ca Mau Province, Vietnam. Based on the value chain approach developed by Kaplinsky and Morris (2001) and ValueLinks theory built by GTZ (2007), the study surveyed 180 participants within the chain including farm households, exporters, traders, wholesalers and supporters. The results show that the Cavendish Banana value chain was operated through four main distribution channels including two domestic channels and two export channels, in which export value chains dominate in terms of both profits and income with 30 times higher compared to domestic ones. Besides, there was a disparity in profit distribution between farm households and export companies, which was mainly due to variation in sales volume and price. Finally, strategic recommendations on improving the economic value of the Cavendish Banana value chain in Ca Mau were proposed.