Circular RNAs (circRNAs) are non-coding RNA (ncRNA) molecules that, due to their covalent ring structure and lack of free ends, have a very high intracellular stability compared to their linear counterparts. In general, circRNAs are expressed in mammalian cells and exhibit tissue/cell-specific expression patterns. Mounting evidence is indicative that circRNAs regulate a variety of cellular processes by acting as miRNA sponges, transcriptional regulators, protein sponges, molecular scaffolds, and protein/peptide translators. The emergence of the biological functions of circRNAs has brought a novel outlook to our better understanding of cellular physiology and disease pathogenesis. CircRNAs have also been shown to play a critical role in the occurrence, development and progression of cancers. Their participation in the pathophysiology of various diseases including cardiovascular diseases, diabetes and neurological disorders is very important. Such characteristics have led to more studies investigating circRNAs as promising tools in molecular medicine and targeted therapy.