A new hydraulic circuit is introduced, packaged as a singular component and referred to as a multifunctional flow control (MFC) valve, for usage in conjunction with self-circulating hydraulic cylinders. Unlike conventional check valves, whose directional flow restrictions are permanent, the restriction on the flow direction in the MFC valve can be changed. In addition to being able to act as a check valve in either direction, this valve can allow free flow or no flow of the fluid when required, that is, a total of four positions. The proposed circuit for the MFC valve can effectively be represented as a two-way four-position valve. Furthermore, the design for the valve is validated through experimentation. Additionally, an aerospace application for this valve is presented and discussed herein.