In this paper, we theoretically investigate the band structures of Lamb wave in one-dimensional radial phononic crystal (PC) slabs composed of a series of alternating strips of epoxy and aluminum. The dispersion relations, the power transmission spectra and the displacement fields of the eigenmodes are calculated by using the finite element method based on two-dimensional axial symmetry models in cylindrical coordinates. The axial symmetry model is validated by three-dimensional finite element model in Cartesian coordinates. Numerical results show that the proposed radial PC slabs can yield several complete band gaps with a variable bandwidth exist for elastic waves. Furthermore, the effects of the filling fraction and the slab thickness on the band gaps are further explored numerically. It is worth observing that, with the increase of the filling fraction, both the lower and upper edges of the band gaps are simultaneously shifted to higher frequency, which results from the enhancement interaction between the rigid resonance of the scatterer and the matrix. The slab thickness is the key parameter for the existence and the width of complete band gaps in the radial PC slabs. These properties of Lamb waves in the radial PC plates can potentially be applied to optimize band gaps, generate filters and design acoustic devices in the rotary machines and structures.