diff --git a/config/build.config.js b/config/build.config.js
index 8c2134a409..f7d876b691 100644
--- a/config/build.config.js
+++ b/config/build.config.js
@@ -97,6 +97,7 @@ module.exports = {
       'src/components/whiteframe/whiteframe.js',
       'src/components/divider/divider.js',
       'src/components/linearProgress/linearProgress.js',
+      'src/components/circularProgress/circularProgress.js',
 
       // Non-visual Components
       'src/components/swipe/swipe.js',
diff --git a/src/components/circularProgress/README.md b/src/components/circularProgress/README.md
new file mode 100644
index 0000000000..149233fba2
--- /dev/null
+++ b/src/components/circularProgress/README.md
@@ -0,0 +1 @@
+Circular progress indicators, created with the `<material-circular-progress>` directive.
\ No newline at end of file
diff --git a/src/components/circularProgress/_circularProgress.scss b/src/components/circularProgress/_circularProgress.scss
new file mode 100644
index 0000000000..a256176bb7
--- /dev/null
+++ b/src/components/circularProgress/_circularProgress.scss
@@ -0,0 +1,139 @@
+$circle-size:48px;
+$circle-background:transparent;
+$circle-color:$color-blue-500;
+$inset-size:36px;
+$inset-color:white;
+$transition-length:.3s;
+$shadow:6px 6px 10px rgba(0, 0, 0, 0.2);
+material-circular-progress {
+  display: block;
+  width: $circle-size + 6;
+  height: $circle-size + 6;
+  background-color: $circle-background;
+  border-radius: 50%;
+  padding: 3px;
+
+  .wrapper1, .wrapper2 {
+    width: $circle-size;
+    height: $circle-size;
+    position: absolute;
+    border-radius: 50%;
+  }
+
+  .circle {
+    .mask, .fill, .shadow {
+      width: $circle-size;
+      height: $circle-size;
+      position: absolute;
+      border-radius: 50%;
+    }
+
+    .shadow { }
+
+    .mask, .fill {
+      -webkit-backface-visibility: hidden;
+      transition: -webkit-transform $transition-length;
+      transition: -ms-transform $transition-length;
+      transition: transform $transition-length;
+    }
+
+    .mask {
+      clip: rect(0px, $circle-size, $circle-size, $circle-size/2);
+      .fill {
+        clip: rect(0px, $circle-size/2, $circle-size, 0px);
+        background-color: $circle-color;
+      }
+    }
+  }
+
+  .inset {
+    width: $inset-size;
+    height: $inset-size;
+    position: absolute;
+    margin-left: ($circle-size - $inset-size)/2;
+    margin-top: ($circle-size - $inset-size)/2;
+    background-color: $inset-color;
+    border-radius: 50%;
+  }
+
+  &[mode=indeterminate] {
+    .wrapper1, .wrapper2 {
+      -ms-transform-origin: 50% 50%; /* IE 9 */
+      webkit-transform-origin: 50% 50%; /* Chrome, Safari, Opera */
+      transform-origin: 50% 50%;
+    }
+
+    .wrapper1{
+      @include animation(indeterminate_rotate1 3s infinite linear);
+    }
+
+    .wrapper2{
+      @include animation(indeterminate_rotate2 1.5s infinite linear);
+    }
+
+    .fill, .mask.full{
+      @include animation(indeterminate_size_fill 1.5s infinite linear);
+    }
+
+    .fill.fix {
+      @include animation(indeterminate_size_fix 1.5s infinite linear);
+    }
+  }
+}
+
+@include keyframes(indeterminate_rotate1) {
+  0%{
+    @include transform(rotate(0deg));
+  }
+  100%{
+    @include transform(rotate(360deg));
+  }
+}
+
+@include keyframes(indeterminate_rotate2) {
+  0%{
+    @include transform(rotate(0deg));
+  }
+  70%{
+    @include transform(rotate(0deg));
+  }
+  100%{
+    @include transform(rotate(360deg));
+  }
+}
+
+@include keyframes(indeterminate_size_fill) {
+  0%{
+    @include transform(rotate(5deg));
+  }
+  10%{
+    @include transform(rotate(5deg));
+  }
+  50%{
+    @include transform(rotate(135deg));
+  }
+  70%{
+    @include transform(rotate(135deg));
+  }
+  100%{
+    @include transform(rotate(5deg));
+  }
+}
+
+@include keyframes(indeterminate_size_fix) {
+  0%{
+    @include transform(rotate(10deg));
+  }
+  10%{
+    @include transform(rotate(10deg));
+  }
+  50%{
+    @include transform(rotate(270deg));
+  }
+  70%{
+    @include transform(rotate(270deg));
+  }
+  100%{
+    @include transform(rotate(10deg));
+  }
+}
\ No newline at end of file
diff --git a/src/components/circularProgress/circularProgress.js b/src/components/circularProgress/circularProgress.js
new file mode 100644
index 0000000000..52b8e62e5d
--- /dev/null
+++ b/src/components/circularProgress/circularProgress.js
@@ -0,0 +1,120 @@
+/**
+ * @ngdoc module
+ * @name material.components.circularProgress
+ * @description Circular Progress module!
+ */
+angular.module('material.components.circularProgress', [
+  'material.animations',
+  'material.services.aria'
+])
+  .directive('materialCircularProgress', [
+    '$$rAF',
+    '$materialEffects',
+    MaterialCircularProgressDirective
+  ]);
+
+/**
+ * @ngdoc directive
+ * @name materialCircularProgress
+ * @module material.components.circularProgress
+ * @restrict E
+ *
+* @description
+ * The circular progress directive is used to make loading content in your app as delightful and painless as possible by minimizing the amount of visual change a user sees before they can view and interact with content.
+ *
+ * For operations where the percentage of the operation completed can be determined, use a determinate indicator. They give users a quick sense of how long an operation will take.
+ *
+ * For operations where the user is asked to wait a moment while something finishes up, and it’s not necessary to expose what's happening behind the scenes and how long it will take, use an indeterminate indicator.
+ *
+ * @param {string} mode Select from one of two modes: determinate and indeterminate.
+ * @param {number=} value In determinate mode, this number represents the percentage of the circular progress. Default: 0
+ * @param {number=} diameter This specifies the diamter of the circular progress. Default: 48
+ *
+ * @usage
+ * <hljs lang="html">
+ * <material-circular-progress mode="determinate" value="..."></material-circular-progress>
+ *
+ * <material-circular-progress mode="determinate" ng-value="..."></material-circular-progress>
+ *
+ * <material-circular-progress mode="determinate" value="..." diameter="100"></material-circular-progress>
+ *
+ * <material-circular-progress mode="indeterminate"></material-circular-progress>
+ * </hljs>
+ */
+function MaterialCircularProgressDirective($$rAF, $materialEffects) {
+  var fillRotations = new Array(101),
+    fixRotations = new Array(101);
+
+  for (var i = 0; i < 101; i++) {
+    var percent = i / 100;
+    var rotation = Math.floor(percent * 180);
+
+    fillRotations[i] = 'rotate(' + rotation.toString() + 'deg)';
+    fixRotations[i] = 'rotate(' + (rotation * 2).toString() + 'deg)';
+  }
+
+  return {
+    restrict: 'E',
+    template: 
+      '<div class="wrapper1"><div class="wrapper2"><div class="circle">' +
+        '<div class="mask full">' +
+          '<div class="fill"></div>' +
+        '</div>' +
+        '<div class="mask half">' +
+          '<div class="fill"></div>' +
+          '<div class="fill fix"></div>' +
+        '</div>' +
+        '<div class="shadow"></div>' +
+      '</div>' +
+      '<div class="inset"></div></div></div>',
+    compile: compile
+  };
+
+  function compile(tElement, tAttrs, transclude) {
+    tElement.attr('aria-valuemin', 0);
+    tElement.attr('aria-valuemax', 100);
+    tElement.attr('role', 'progressbar');
+
+    return postLink;
+  }
+
+  function postLink(scope, element, attr) {
+    var circle = element[0],
+      fill = circle.querySelectorAll('.fill, .mask.full'),
+      fix = circle.querySelectorAll('.fill.fix'),
+      i, clamped, fillRotation, fixRotation;
+
+    var diameter = attr.diameter || 48;
+    var scale = diameter/48;
+
+    circle.style[$materialEffects.TRANSFORM] = 'scale(' + scale.toString() + ')';
+
+    attr.$observe('value', function(value) {
+      clamped = clamp(value);
+      fillRotation = fillRotations[clamped];
+      fixRotation = fixRotations[clamped];
+
+      element.attr('aria-valuenow', clamped);
+
+      for (i = 0; i < fill.length; i++) {
+        fill[i].style[$materialEffects.TRANSFORM] = fillRotation;
+      }
+
+      for (i = 0; i < fix.length; i++) {
+        fix[i].style[$materialEffects.TRANSFORM] = fixRotation;
+      }
+    });
+  }
+
+  function clamp(value) {
+    if (value > 100) {
+      return 100;
+    }
+
+    if (value < 0) {
+      return 0;
+    }
+
+    return Math.ceil(value || 0);
+  }
+}
\ No newline at end of file
diff --git a/src/components/circularProgress/circularProgress.spec.js b/src/components/circularProgress/circularProgress.spec.js
new file mode 100644
index 0000000000..5036a538f2
--- /dev/null
+++ b/src/components/circularProgress/circularProgress.spec.js
@@ -0,0 +1,18 @@
+describe('materialCircularProgress', function() {
+  beforeEach(module('material.components.circularProgress'));
+
+  it('should update aria-valuenow', inject(function($compile, $rootScope) {
+    var element = $compile('<div>' +
+      '<material-circular-progress value="{{progress}}">' +
+      '</material-circular-progress>' +
+      '</div>')($rootScope);
+
+    $rootScope.$apply(function() {
+      $rootScope.progress = 50;
+    });
+
+    var progress = element.find('material-circular-progress');
+
+    expect(progress.eq(0).attr('aria-valuenow')).toEqual('50');
+  }));
+});
\ No newline at end of file
diff --git a/src/components/circularProgress/demo1/index.html b/src/components/circularProgress/demo1/index.html
new file mode 100644
index 0000000000..823032481b
--- /dev/null
+++ b/src/components/circularProgress/demo1/index.html
@@ -0,0 +1,7 @@
+<div ng-controller="AppCtrl" layout="vertical" layout-padding>
+  <h3>Determinate</h3>
+  <material-circular-progress mode="determinate" value="{{determinateValue}}"></material-circular-progress>
+
+  <h3>Indeterminate</h3>
+  <material-circular-progress mode="indeterminate"></material-circular-progress>
+</div>
\ No newline at end of file
diff --git a/src/components/circularProgress/demo1/script.js b/src/components/circularProgress/demo1/script.js
new file mode 100644
index 0000000000..15f29e31d2
--- /dev/null
+++ b/src/components/circularProgress/demo1/script.js
@@ -0,0 +1,14 @@
+angular.module('circularProgressDemo1', ['ngMaterial'])
+  .controller('AppCtrl', ['$scope', '$interval',
+    function($scope, $interval) {
+      $scope.mode = 'query';
+      $scope.determinateValue = 30;
+
+      $interval(function() {
+        $scope.determinateValue += 1;
+        if ($scope.determinateValue > 100) {
+          $scope.determinateValue = 30;
+        }
+      }, 100, 0, true);
+    }
+  ]);
diff --git a/src/components/circularProgress/demo1/style.css b/src/components/circularProgress/demo1/style.css
new file mode 100644
index 0000000000..76e6846d73
--- /dev/null
+++ b/src/components/circularProgress/demo1/style.css
@@ -0,0 +1,3 @@
+body {
+  padding: 20px;
+}
\ No newline at end of file
diff --git a/src/components/circularProgress/module.json b/src/components/circularProgress/module.json
new file mode 100644
index 0000000000..5b030d5b6a
--- /dev/null
+++ b/src/components/circularProgress/module.json
@@ -0,0 +1,10 @@
+{
+  "module": "material.components.circularProgress",
+  "name": "Circular Progress",
+  "demos": {
+    "demo1": {
+      "name": "Circular Progress Basic Usage",
+      "files": ["demo1/*"]
+    }
+  }
+}
\ No newline at end of file
diff --git a/src/main.scss b/src/main.scss
index a46b823865..6126c8bded 100644
--- a/src/main.scss
+++ b/src/main.scss
@@ -30,4 +30,5 @@
 "components/list/list",
 "components/divider/divider",
 "components/whiteframe/whiteframe",
-"components/linearProgress/linearProgress";
+"components/linearProgress/linearProgress",
+"components/circularProgress/circularProgress";