This chapter provides a structured overview of the different dimensions of ethical reflections on the notion of “innovation.” We frame innovation ethics as an emerging academic field made up of three main parts, each investigated in one section of this chapter. The first section deals with ethical questions linked to the general conceptualization of innovation; it mainly focuses on the interplay between the embedding of innovation within specific narratives and the conceptual disruptions that innovation brings to existing narratives. The second section deals with the specific ethical questions raised by innovation conceived as a process (“innovation-as-process ethics”), drawing on and complementing responsible innovation scholarship. The third section moves to the ethical issues related to innovation conceived as a product (“innovation-as-product ethics”), focusing especially on AI and carbon dioxide removal. Overall, the objective of this chapter is to identify and critically reflect on the major ethical dimensions of innovation. It also makes a case for the relevance of innovation ethics as an important way to look at innovation, for companies and organizations involved in innovation processes, but also more broadly for researchers, users, and policymakers.