A microstructured optical fiber with a new type of waveguiding mechanism is proposed. The fiber consists of a circular rod array of high index material (n=3.48) embedded in a low index background (n=1.44). The rod array exhibits guided-mode resonance (GMR) for cylindrical waves arriving from inside the array, and thus functions as a highly reflective circular wall. Through finite-difference time-domain (FDTD) simulations, we confirmed light confinement and guidance near the GMR wavelength. Basic optical characteristics such as dispersion relations, loss spectra, and mode field profiles were calculated.