The interface tends to behave as a circular shape under the effect of surface tension in the two-dimensional two-phase fluid flow. In this study, based on the coupled volume-of-fluid and level set (VOSET) method, an accurate circle-based interface reconstruction (CIR) algorithm for structured meshes is proposed, which features a straightforward implementation procedure. A portion of the standard circle is employed to approximate the curve interface, without the need for complex classification, coordinate transformation, and equation transformation. The radius of this circle is computed simply by the curvature and signed distance at the mixed cell center, and the center of this circle is determined using a straightforward dichotomy method under the mass conservation constraints. Results indicate that the coupled VOSET and CIR (VOSET-CIR) method maintains superior computational accuracy in the signed distance, interface curvature, and dynamic interface reconstruction compared to the coupled VOSET and piecewise linear interface calculation (VOSET-PLIC) method, with accuracy improvements ranging from 34% to 1490% across different test cases. Furthermore, the VOSET-CIR method outperforms the efficient least squares volume-of-fluid interface reconstruction (ELVIRA) and PLIC algorithms in reconstructing random circles and surpasses the quadratic spline based interface reconstruction (QUASI) algorithm in reconstructing random squares. In terms of computational efficiency, except for the initial PLIC algorithm, the time costs of the VOSET-CIR method are substantially lower than those of the ELVIRA and QUASI algorithms, as well as the VOSET-PLIC method.