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Circular RNAs (circRNAs) represent a mysterious class of noncoding RNAs that are generated by the circularization of exons or introns and characterized as being highly stable and abundant. Although circRNAs have been studied for several decades, our knowledge of these molecules remains limited. With the development of innovative bioinformatic tools and sequencing methods, comprehensive studies of circRNAs are now available in the literature. There is emerging evidence to show that circRNAs play roles in the regulation of gene expression. In this review, several primary potential functions of circRNAs are summarized; these include binding to microRNA/RNA-binding proteins, inhibiting/promoting messenger RNA translation, and their own translation.