Efficient implementation of finite field multipliers based on a reordered normal basis (RNB) is highly desirable in the current/emerging cryptosystems since it offers almost free realization of squaring operation. Therefore, in this paper, we propose novel bit-parallel and digit-serial finite field multipliers over $GF(2^{m})$ based on RNB. By efficient transformation of the core multiplication algorithm using a unique circular shifting feature, we have derived an efficient algorithm for low-complexity systolic mapping. Both bit-parallel and digit-serial structures of the multipliers are then obtained and optimized to enhance the area–time efficiency. We have also utilized the unique feature of the proposed multiplication algorithm to obtain the systolic multipliers by Karatsubalike decomposition. Detailed analysis and comparison show the superior performance of the proposed implementation. For example, the proposed regular and Karatsuba-based bit-parallel designs involve at least 48.4% less area-delay product (ADP) and 42.2% less power-delay product (PDP) than the best existing ones (37.7% and 55.3% less ADP and PDP on field-programmable gate array platform), respectively. The proposed multipliers, because of their lower area–time complexities, can be used for efficient realization of cryptographic applications.