Under the external shearing stress, the external radial stress and the electric potential simultaneously, the piezoelectric hollow cylinder transducer is studied. With the Airy stress function method, the analytical solutions of this transducer are obtained based on the theory of piezo-elasticity. The solutions are compared with the finite element results of Ansys and a good agreement is found. Inherent properties of this piezoelectric cylinder transducer are presented and discussed. It is very helpful for the design of the bearing controllers.