This paper deals with the role of circumstantial evidence in criminal proceedings with particular emphasis on the role of clue in criminal investigation. Paper is designed to start with the historical development of circumstantial evidence and their role in criminal proceedings. Furthermore, this paper deals with some fundamental concepts such as the factual state, the very notion of fact, and the fact-finding methods. Furthermore, this paper is trying to answer the questions: what is the relationship between evidence in the strict sense of the word and the facts. It was found that between facts and evidence in strict sense, there is clear and specific distinction, because the evidence in strict sense of the term are sources of knowledge of the facts, but they are not the facts. In this paper there is included the tripartite division of facts and it is shown which of them may not be established, and which of them can not be established even though they are conceptual object of establishment. Apart from the question who determines the facts, important issues are what is the purpose of him doing it, and in which range is the activity of fact-finding carried out. For this reason, it is mentioned who are authorities concerned with establishing facts in criminal proceedings and with which conviction the material facts must be determined in making certain decisions. Since this paper is also dealing with special focus on the role of circumstantial evidence in the criminal investigation, this subject is separately analyzed more into details. Even at the beginning of this unit, we can see that there is a clear distinction between the circumstantial evidence in criminal proceedings and the circumstantial evidence in the criminal investigation. In order to facilitate monitoring, the term of criminology is defined, and the distinction of circumstantial evidence in criminalistics is processed. In this section, important circumstantial evidence are discussed into details, and the importance of circumstantial evidence in the criminal investigation is explained. Furthermore, the concepts that are very important in criminology are mentioned, such as circumstantial sequence and closed-circuit indications. At the end of this paper, the possibility of a judgment without any circumstantial evidence is explained, and there is presented the case of the disappearance of the New York ballerina Irina Silverman.