System and method embodiments are provided for implementing balanced passive cancellation of self-interference (SI) for full-duplex (FD) communications. In an embodiment, a transceiver circuit for FD communications comprises an antenna comprising a first port and a second port, a transmitter, and a power divider coupled to the transmitter and comprising a first output and a second output. The transceiver circuit further comprises a receiver, a power combiner coupled to the receiver and comprising a first input and a second input, and a first circulator coupled to the first output of the power divider, the first port of the antenna, and the first input of the power combiner. The transceiver circuit also comprises a second circulator coupled to the second output of the power divider, the second port of the antenna, and the second input of the power combiner.