The existence and stability of circular orbits (CO) in static and spherically symmetric (SSS) spacetime are important because of their practical and potential usefulness. In this paper, using the fixed point method, we first prove a necessary and sufficient condition on the metric function for the existence of timelike COs in SSS spacetimes. After analyzing the asymptotic behavior of the metric, we then show that asymptotic flat SSS spacetime that corresponds to a negative Newtonian potential at large $r$ will always allow the existence of CO. The stability of the CO in a general SSS spacetime is then studied using the Lyapunov exponent method. Two sufficient conditions on the (in)stability of the COs are obtained. For null geodesics, a sufficient condition on the metric function for the (in)stability of null CO is also obtained. We then illustrate one powerful application of these results by showing that an SU(2) Yang-Mills-Einstein SSS spacetime whose metric function is not known, will allow the existence of timelike COs. We also used our results to assert the existence and (in)stabilities of a number of known SSS metrics.
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