A scheme of circular system is introduced, which is supposed to generate hyperbolic chaos. Its operation is based on doubling of phase on each complete cycle of the signal transmission through the feedback ring. That is a criterion for the attractor of Smale–Williams type to exist. Mathematically, the model is described by the fourth order nonautonomous system of ordinary differential equations. The equations for slowly varying complex amplitudes are derived, and the Poincar ́ e return map is obtained. Numerical simulation data are presented.