jQuery form reset button for all entered values

Won't the <input type="reset" > suffice?

<form>

   <input type='reset'  />

</form>

DEMO

The other jQuery solution for resetting the form fields would be:

$('#form')[0].reset(); or $('#form').get(0).reset();

Another one, more specific, referring to the required fields:

$('#form').find('input, select').not(':button, :submit, :reset, :hidden').val('').removeAttr('checked').removeAttr('selected');

jsFiddle Working Live Demo - jQuery Solution

Using only JavaScript:

document.getElementById('form').reset();

Using only HTML:

As it was mentioned in one of the answers, in most cases you don't need JavaScript for resetting the form fields, it works just by settings type="reset" to the button, e.g.:

<button type="reset" value="Reset">Reset</button>

Try the following:

$(function() {
    $('#reset').click(function() {
        $(':input','#myform')
            .not(':button, :submit, :reset, :hidden')
            .val('')
            .removeAttr('checked')
            .removeAttr('selected');
    });
});

You're running the javascript before the DOM is ready. $(function() {}) only runs when the DOM is ready. Read more here: .ready()