Abstract: A motor-operated valve configured to control the flow rate during a normal flow and pass the fluid so as to minimize pressure loss during a reverse flow, and a refrigeration cycle using the same, are provided. It is configured such that during a normal flow, the fluid is made to flow only from between the main valve member and the orifice to perform flow rate control, and during a reverse flow, all or a majority of the fluid is made to flow to a bypass channel without being passed through the orifice to decrease pressure loss as much as possible. A check valve member which closes the bypass channel during a normal flow and opens it during a reverse flow is provided in the valve main body.