The collection of posters, programmes and photos, gathered over 80 years, documents the early travelling zoos to modern-day acrobatic shows.
It follows the donation of the Circus Friends Association (CFA) archive to the University of Sheffield.
The exhibition, called Spectacle & Wonder, runs at the university's Western Bank Library until 2 April.
The CFA, previously known as the Circus Fans' Association, was established in 1934 to promote the circus as part of British culture.
The university said the collection was "one of the most import circus archives in the United Kingdom".
It features items from some of Britain's most popular circus companies including Bertram Mills', Billy Smart's, Robert Brothers, Chipperfield's, Fossett's and Blackpool Tower.
Since the 19th century, animals were taken on tour as part of travelling menagerie's before they were later combined with traditional circus shows.
Angela Haighton, from the University of Sheffield Library, said: "As a popular form of entertainment the circus is an significant part of our social history.
"The donation of this important collection means we can make it more widely accessible and preserve it for future generations."
An exhibition looking at the history of Britain's circuses has opened in Sheffield.