This study deals with the free vibration of two identical circular plates coupled with a bounded or unbounded fluid. An analytical method based on the finite Fourier-Bessel series expansion and Rayleigh-Ritz method is suggested. The proposed method is verified by the finite element analysis using commercial program with a good accuracy The case of bounded or unbounded fluid is studied for the effect on the vibration characteristics of two circular plates. Also, the effect of gap between the plates on the fluid-coupled natural frequencies is investigated.