A new approach is proposed to solve for the eigen-values and eigen-functions of circular plates with circular holes by using the Rayleigh Ritz Method. In this method, the spatial solution is expanded into separable functions in terms of polar coordinates. While trigonometric functions are used along the circumferential direction, the Boundary Characteristic Orthogonal Polynomials build the radial shape functions. Written in terms of the assumed functions, the potential and kinetic energies are modified in order to account for the holes. Although the proposed approach is applicable for plates with different boundary conditions and different hole shapes, the free vibration of a clamped circular plate with circular holes is considered in the present study. The edges of the holes are free. Four different case studies are carried out. The results of the Rayleigh Ritz Method are compared with those available in the literature.