Circular RNA takes a crucial part in carcinogenesis. Circ_0058063 has been found to act as an oncogene in esophageal cancer and bladder cancer, but its role in thyroid cancer (TC) is still under investigation. Therefore, we carried out a study to understand its role in TC and its association with miR-330-3p. The circ_0058063 and miR-330-3p in TC tissues and cells were quantified by quantitative reverse transcription PCR, and cell counting kit-8 and scratch adhesion test were conducted for evaluation of cell proliferation and migration. In addition, a dual luciferase reporter assay and RNA immunoprecipitation assay were conducted for interaction analysis between circ_0058063 and miR-330-3p. Circ_0058063 was upregulated in TC tissues and cells, but miR-330-3p expression showed an opposite trend. Both silencing circ_0058063 and upregulating miR-330-3p can suppress the proliferation and migration of TC cells, upregulate Bax, and downregulate Bcl-2. In addition, circ_0058063 is able to target miR-330-3p that is also able to target syndecan 4 (SDC4). circ_0058063 can act as a carcinogen in cases with TC via the miR-330-3p/SDC4 axis.