Acute myeloid leukemia (AML) is a myeloid malignancy characterized by aberrant proliferation and differentiation of immature cells in the bone marrow. The overall prognosis is poor (5-year overall survival of only 28.7%). Hence, there is a need for novel biomarkers that are reliable, predictable, and effective. Circular RNAs are a special kind of noncoding RNAs that lack a 5’ cap and a 3’ poly-A tail. They have a stable structure and exhibit cell and tissue specificity. They have been found to regulate gene expression, act as a miRNA sponge, interact with specific proteins altering their functions, or directly be translated into proteins under certain stress conditions. Furthermore, they are closely related to the occurrence and development of diseases, which makes them a suitable candidate for serving as biomarkers for cancer including AML. Despite recent progress in analytical techniques, which have identified numerous circular RNAs (circRNAs) with abnormal expression levels in AML, our understanding of the specific roles played by most of these circRNAs remains limited. This article aimed to focus on circRNA characters including biogenesis, properties, and approaches besides summarizing their biological functions. Also, it discerned circ_0002232 and circ-VIM updates aiming to identify their evolving role on AML. We noticed that circRNAs could affect AML biology and pathogenesis by regulating gene expression and influencing various stages of leukemogenesis such as cell differentiation, cell cycle progression, proliferation, and apoptosis. Furthermore, they have been implicated in the development of drug resistance. Also, both circRNAs of interest could play a crucial role in AML diagnostic and therapeutic applications.