The canonical problem of scattering by a cylindrical obstacle in a rectangular waveguide is rigorously reexamined in the framework of the domain product technique. An accurate, rapidly converging algorithm is based on the efficient series representation of the field in a rectangular interaction region. It is shown that the fast convergence of the numerical approximation is stipulated by mathematical properties of the matrix operator arising from the boundary value formulation. The solution is also validated by comparison with the data of other authors. The approach proposed can be applied to the analysis of scattering by real metallic or dielectric posts placed parallel to the narrow or broad wall of the guide, in the theory of the circular-rectangular coaxial waveguide and the theory of other structures containing circular obstacles in the rectangular coupling region.