For a network with cycle, where at least one cycle exists, the Floyd- Warshall algorithm is probably the most used algorithm to determine he least cost path between every pair of nodes on this network, i.e. the solution for the shortest path problem with cycle. In this paper, a new algorithm for this problem which requires less computational effort than the Floyd-Warshall algorithm has been developed Furthermore, it can be shown that the basis of our algorithm is much easier to be learnt and understood which might be an advantage for educational puposes. A small example validates our algorithm and shows its implementation