In order to improve the accuracy and real-time performance of iris location, an iris boundary location algorithm based on double circular compensation is proposed. The approximate radius compensation and approximate circle center compensation are used as the core to locate the inner and outer boundary of the iris by the proposed algorithm. When locating the inner boundary, the minimum gray average method is used to perform coarse localization, and the approximate circle center compensation method is used for locating the inner boundary exactly after extracting the inner boundary images. When locating the outer boundary, the approximate radius compensation method is used to perform coarse locating, and the exact locating is performed by the approximate circle center compensation method. Experimental results show that 2000 different iris images from CASIA for verification are randomly selected. The average locating time of the algorithm was 0.29 s, and the locating accuracy rate is 98.1%. The proposed algorithm is more accurate and faster than the contrast method.