The aim of the research is to test the impact of entrepreneurial vigilance in its dimensions (vigilant survey and research, vigilant connectivity and communication, assessment and judgment) on innovation with the business model in its dimensions (renewal-based business model, competency-based business model) through the mediating role of entrepreneurial learning with its dimensions (exploratory entrepreneurial learning, investment entrepreneurial learning). The research was based on the descriptive analytical approach. The sample included 120 members of the directors and department heads of the private banks in the Middle Euphrates governorates (Diwaniyah, Babylon, Holy Karbala, Najaf Al-Ashraf, and Muthenah). In order to achieve the research objective, a virtual model was created to illustrate the nature of the relationship between the three variables of the study and the resolution was adopted as a main data collection tool. The resolution was distributed to (142) sample subjects and (130) resolution was restored, and many statistical methods were used including mean, standard deviation, variance factor, and structuring equation modeling, using (AMOS,20 and SPSS V.25) in diagnosing study variables and testing hypotheses. The study reached several conclusions, the most important of which is the direct impact of entrepreneurial vigilance on business model innovation. An indirect impact of entrepreneurial vigilance on business model innovation through the role of entrepreneurial learning.