Waveguide hybrid junctions, such as Magic-T and rat-race couplers, have been of great interest in microwave technology not only for their applications in power monitoring, but also for design and synthesis of various non-reciprocal devices including electromagnetic circulators and isolators. Here, an acoustic rat-race coupler is designed and demonstrated for the first time, working on the basis of constructive and destructive interferences between the clockwise and counterclockwise of a ring resonator. It is then shown how the sound isolation provided by such a coupler enables the realization of an acoustic four-port circulator, a device which has not been reported as yet. Many other promising acoustic devices comprising power combiners, power dividers, mixers, and modulators can be envisioned to be implemented based on the proposed rat-race coupler.