A projection neural network method for circular cone programming is proposed. In the KKT condition for the circular cone programming, the complementary slack equation is transformed into an equivalent projection equation. The energy function is constructed by the distance function and the dynamic differential equation is given by the descent direction of the energy function. Since the projection on the circular cone is simple and costs less computation time, the proposed neural network requires less state variables and leads to low complexity. We prove that the proposed neural network is stable in the sense of Lyapunov and globally convergent. The simulation experiments show our method is efficient and effective.