Create and Rotate Text Around a Circle in Photoshop
Circular text is great for badges, logos, and stamps. You’ll create a circle path, add type along the path, and center it. Then you’ll duplicate the text, flip it to the inside for an upside-down effect, and fine-tune with baseline adjustments.

Step-by-step instructions
Draw a perfect circular path
Select the Ellipse Tool (U) and set Mode to Path in the Options bar.
Hold Shift and drag to draw a perfect circle.
Select the circle path and your background layer, then use the Move Tool alignment buttons to align Horizontal Centers and Vertical Centers.
Type along the circle
Select the Type Tool (T).
Hover over the circle path until the cursor shows the text-on-path icon, then click.
Type your text (e.g., “Photoshop Circle text”).
Press Ctrl/Command + A to select all, set your font/style, set size to 24 pt, and set Paragraph alignment to Center.
Position the text on the path
Select the Path Selection Tool (A).
Drag the start/end brackets (arrows) along the path to center the text at the top.
Duplicate and flip for bottom text
Duplicate the text layer (Ctrl/Command + J).
With the Path Selection Tool, drag the text to the inside/outside of the circle to flip it upside down.
Drag the brackets to center the flipped text at the bottom of the circle.
Offset the text from the path
Go to Window → Character to open the Character panel.
Set Baseline (Baseline Shift) to -14 to move the text outward from the circle.