Of course, you have to use to tags to do that. One to create the circle and other for the text.
Here some code may help you
#circle {
background: #f00;
width: 200px;
height: 200px;
border-radius: 50%;
color:black;
}
.innerTEXT{
position:absolute;
top:80px;
left:60px;
}
<div id="circle">
<span class="innerTEXT"> Here a text</span>
</div>
Live example here http://jsbin.com/apumik/1/edit
Update
Here less smaller with a few changes