This paper presents the development of a concept for a circular economy (CE) regional monitoring framework for European countries, an example that can be used by regional policymakers as a supportive instrument for faster and more effective implementation of the CE model of regional development. The work identifies appropriate focus areas and "pillars" for such a framework, and proposes key aspects for evaluating CE-based regional development. The concept for the CE regional monitoring framework is divided into a basic (conceptual) level and an applied (practical) level in order to connect the concept of CE with its practical implementation, evaluation, and monitoring in a given region. The study also highlights the European context of the CE concept and its similarities and differences in relation to existing CE concepts around the world.