Disclosed are a single-frequency circular polarization positioning antenna and a wearable device. The single-frequency circular polarization positioning antenna includes an inverted F antenna and a parasitic antenna which are in an orthogonal layout; resonance is generated on the parasitic antenna through a coupling effect by means of feeding the inverted F antenna, so that the overall structure of the circular polarization antenna is simplified, and is achieved on a wearable product more easily. Therefore, the positioning antenna can better receive signals of a navigation satellite, and right hand circular polarization radiation generated by an annular radiating body can also filter left hand circular polarization navigation satellite signals reflected by high buildings or the ground, so as to reduce the multipath interference, thus effectively improving the positioning accuracy of the positioning antenna of the wearable device.