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The 36-46km-wide feature, identified in DR Congo, may be one of the largest such structures discovered in the last decade.
Italian researchers considered other origins for the ring, but say these are unlikely.
They presented their findings at the recent Lunar and Planetary Science Conference in Texas, US.
The ring shape is clearly visible in the satellite image by TerraMetrics Inc reproduced on this page.
Only about 25 terrestrial impact craters are of comparable size or larger, according to the web-based Earth Impact Database.
Manicouagan is one of the largest known terrestrial impact craters. It is 65 kilometers (40 miles) in diameter...Produced by an asteriod impact some 200 million years ago,...