The circular shaft are increasingly used in underground works such as ventilation shafts, escape shafts of underground structures, or lowering and recovery shafts of tunnel boring machines (TBM). The circular structure of circular shaft creates an arch effect, which leads to a reduction in earth pressure on the retaining wall. Radial pressure will be converted into a circular force in the direction of the wall circumference. Deformation of ground around the excavation is also small. However, the analysis of circular shafts is complicated, requiring the use of 3D modeling. In this paper, the method of determining the earth pressure acting on the retaining wall of a circular shaft is presented from analytical formulas. The calculated results are compared with the monitoring results in-situ. The methodology in this paper can be used in the preliminary design stage.