It says in Ben Ish Hai that there are those who celebrate their birthdays every year. Hacham Yosef Hayim, 'a"h, adds that it is good to do so and that this is the custom in his home.
He adds further, that there are those who have the custom of having a Se'udah (festive meal) every year on the date of their Milah, and that it is a fine custom which he finds very positive, even though it was not his custom.
He did, however, say a special prayer every year on that day, which can be found in Ben Ish Hai, Parashath Re-eh, 1st Year.
(See Ben Ish Hai, Parashath Re-eh, 1st Year, Oth 17)
