Based on classical plate theory (CLPT), free vibration analysis of a circular plate composed of functionally graded material (FGM) with its upper and lower surfaces bounded by two piezoelectric layers was performed. Assuming that the material properties vary in a power law manner within the thickness of the plate the governing differential equations are derived. The distribution of electric potential along the thickness direction in piezoelectric layers is considered to vary quadratically such that the Maxwell static electricity equation is satisfied. Then these equations are solved analytically for two different boundary conditions, namely clamped and simply supported edges. The validity of our analytical solution was checked by comparing the obtained resonant frequencies with those of an isotropic host plate. Furthermore, for both FGM plate and FGM plate with piezoelectric layers, natural frequencies were obtained by finite element method. Very good agreement was observed between the results of finite element method and the method presented in this paper. Then for the two aforementioned types of boundary conditions, the values of power index were changed and its effect on the resonant frequencies was studied. Also, the effect of piezoelectric thickness layers on the natural frequencies of FGM piezoelectric plate was investigated.