However, you could construct phrases or use existing words to convey the idea, depending on the nuance you want to express:
* κύκλος τῆς ζωῆς (kýklos tēs zōēs): This literally means "circle of life," which is a close semantic equivalent. It's probably the closest and most readily understood option.
* τροχός τῆς τύχης (trochós tēs túchēs): This translates to "wheel of fortune" or "wheel of fate." While not exactly "wheel of life," it captures the cyclical and often unpredictable nature of life, similar to the concept.
The best choice depends on the context. If you're referring to the cyclical nature of birth, death, and rebirth, κύκλος τῆς ζωῆς is better. If you emphasize the randomness and ups and downs of life's journey, τροχός τῆς τύχης might be more appropriate.