Underwater acoustic transducers are widely used for SONAR application, whose important design parameters are shapes. materials, dimensions and supporting structures. Practical design method of transducers consists of manufacturing, experiments and modifications so that it requires much time and expenses. In this study, an analytical method was developed for the Tonpilz type transducers using the commercial finite element analysis code ATILA which can solve the electro-mechanical coupling problems. A finite element model was established including the transducer elements such as ceramic stack, head mass, tail mass, tensile bolt, and molding layers. The proposed model was verified and modified by comparing the in-air and in-water test results of prototypes. The developed analysis method will be effectively used for the sensitivity analysis of design parameters in transducer design process.