Endogenous noncoding RNAs with a covalently closed loop are known as circular RNAs (circRNAs). Recently, published works have revealed that circRNAs, which act as microRNA sponges, are critical for the biological behavior of several kinds of malignancies, including tumor cell proliferation, apoptosis, invasion, and metastasis. Additionally, there is a significant correlation between circRNAs and tumor resistance, stage, prognosis, and size. At present, colorectal cancer (CRC) is one of the most serious malignant tumors for human health. CircRNAs could represent potential targets to use in the prevention, diagnosis, and therapy of CRC, according to many studies. To fully comprehend the role of circRNAs in the incidence and progression of CRC, this review outlines the regulatory role and mechanisms of circRNAs in CRC and assesses their potential relevance as diagnostic and treatment possibilities for CRC. Our goal is to offer meaningful biological information for clinical evaluation and decision-making process for CRC treatment.