Numerically controlled oscillators and oscillation methods for generating function values in respective clock cycles by using a recurrence equation are provided. The oscillation circuit generates, in each of the clock cycles, a current one of the function values by multiplying, using a multiplier having a latency of k clock cycles, a first one of the function values generated in a first one of the clock cycles that is j cycles before a current one of the clock cycles by a coefficient and adding an output of the multiplier and at least one of the function values generated in previous ones of the clock cycles that are 1 to i−1 cycles before the current one of the clock cycles excluding the first one of the clock cycles, where 2