An annular solar eclipse occurred at the Moon's descending node of orbit between Monday, January 3 and Tuesday, January 4, 1927, with a magnitude of 0.9995. A solar eclipse occurs when the Moon passes between Earth and the Sun, thereby totally or partly obscuring the image of the Sun for a viewer on Earth. An annular solar eclipse occurs when the Moon's apparent diameter is smaller than the Sun's, blocking most of the Sun's light and causing the Sun to look like an annulus (ring). An annular eclipse appears as a partial eclipse over a region of the Earth thousands of kilometres wide. The Moon's apparent diameter was near the average diameter because it occurred 8.6 days after apogee (on December 26, 1926, at 7:10 UTC) and 3.3 days before perigee (on January 7, 1927, at 3:00 UTC).

Annularity was visible from New Zealand on January 4 (Tuesday), and Chile, Argentina, Uruguay and southern Brazil on January 3 (Monday). A partial eclipse was visible for parts of Oceania, Antarctica, and South America.

Shown below are two tables displaying details about this particular solar eclipse. The first table outlines times at which the Moon's penumbra or umbra attains the specific parameter, and the second table describes various other parameters pertaining to this eclipse.

This eclipse is part of an eclipse season, a period, roughly every six months, when eclipses occur. Only two (or occasionally three) eclipse seasons occur each year, and each season lasts about 35 days and repeats just short of six months (173 days) later; thus two full eclipse seasons always occur each year. Either two or three eclipses happen each eclipse season. In the sequence below, each eclipse is separated by a fortnight.

This eclipse is a member of a semester series. An eclipse in a semester series of solar eclipses repeats approximately every 177 days and 4 hours (a semester) at alternating nodes of the Moon's orbit.

The partial solar eclipses on March 5, 1924 and August 30, 1924 occur in the previous lunar year eclipse set, and the solar eclipses on May 19, 1928 and November 12, 1928 occur in the next lunar year eclipse set.

This eclipse is a part of Saros series 140, repeating every 18 years, 11 days, and containing 71 events. The series started with a partial solar eclipse on April 16, 1512. It contains total eclipses from July 21, 1656 through November 9, 1836; hybrid eclipses from November 20, 1854 through December 23, 1908; and annular eclipses from January 3, 1927 through December 7, 2485. The series ends at member 71 as a partial eclipse on June 1, 2774. Its eclipses are tabulated in three columns; every third eclipse in the same column is one exeligmos apart, so they all cast shadows over approximately the same parts of the Earth.

The longest duration of totality was produced by member 11 at 4 minutes, 10 seconds on August 12, 1692, and the longest duration of annularity will be produced by member 53 at 7 minutes, 35 seconds on November 15, 2449. All eclipses in this series occur at the Moon’s descending node of orbit.