An improved multi-junction waveguide circulator overlaps two quarter-wave dielectric transformer sections so that the transitional sections occur concurrently in the same length of waveguide. Consequently, the two quarter-wavelength sections require a total length of between one-quarter wavelength and one-half wavelength, with no air gap between the two sections along the length of the internal cavity. The improved waveguide circulator can be implemented in variations from a minimum of two ferrite circulator elements held in close proximity to one another to any number of ferrite elements as required to achieve the desired isolation performance or to create a switch matrix with any combination of input and output ports. The improved waveguide circulator minimizes the length of the transitions between adjacent ferrite elements and thus reduces losses, component size, and mass.