In music theory, what is the circle of fifths?

The circle of fifths is a way of organizing the 12 chromatic pitches as a sequence of perfect fifths. (This is strictly true in the standard 12-tone equal temperament system — using a different system requires one interval of diminished sixth to be treated as a fifth). If C is chosen as a starting point, the sequence is: C, G, D, A, E, B (=C♭), F♯ (=G♭), C♯ (=D♭), A♭, E♭, B♭, F. Continuing the pattern from F returns the sequence to its starting point of C. This order places the most closely related key signatures adjacent to one another. It is usually illustrated in the form of a circle.