The mechanism of load transfer by punching shear in pile-supported embankments is investigated. Based on the geometric configuration of the punching shear observed in sand fills on soft ground, a theoretical analysis is carried out to predict the embankment loads transferred on a cap beam according to punching shear developed in pile-supported embankments. The equation presented by the theoretical analysis was able to consider the effect of various factors affecting the vertical loads transferred on the cap beam. The reliability of the presented theoretical equation is investigated by comparing it with the results of a series of model tests. The model tests were performed on cap beams, which had two types of width; one is narrow width and the other is wide width. Sand filling was performed through seven steps. Two types of loading pattern were applied at each filling step; one is the long-term loading, in which sand fills at each filling step were kept for 24 hours, the other is the short-term loading, in which sand fills at each filling step were kept for 2 hours. The vertical loads measured in all model tests show good agreement with the ones predicted by the theoretical equation. Finally, the predicted vertical loads also show good agreement with the vertical loads measured in a well-instrumented pile-supported embankment in field, where cap beams were placed on too wide space.