The aim of this study was to assess the phytoremediation potential of fiber flax (Linum usitatissimatum L., var. Calista) cultivated in a soil contaminated with multiple metals, under real field conditions. A two-year (2022 and 2023) field experiment was conducted in a site contaminated with elevated concentrations of Cd, Ni, Cu, Pb, and Zn due to mining and metallurgical activities. Three different nitrogen fertilization levels were tested (N0: 0 kg N ha−1, N1: 30 kg N ha−1, N2: 60 kg N ha−1), and both spring and winter sowings were conducted. At full maturity, growth parameters and yields were measured. The phytoremediation potential of flax was assessed in terms of the metal concentrations in the above-ground biomass and of the metal uptake (i.e., the potential removal of the soil metals in g ha−1 and per year). Flax demonstrated a shorter growth cycle, with shorter and thicker plants and higher yields when sown in spring compared to winter sowing. Plant growth and productivity were not evidently influenced by additional nitrogen fertilization during plant growth. The cadmium bioaccumulation factor was 1.06, indicating that flax accumulates this metal. For Ni, Cu, Pb, and Zn, the corresponding values were 0.0, 0.04, 0.004, and 0.02, suggesting that this crop excludes these metals. The order of the higher uptake in plant tissues was as follows: Zn > Pb > Cd > Cu > Ni. In conclusion, flax demonstrated tolerance to heavy metals in the soil, effectively supporting soil restoration through cultivation. Additionally, flax showed potential as a cadmium accumulator while excluding nickel, copper, lead, and zinc.