This paper presents an analyzing method of the capacitance of the power transformer for initial voltage distribution and insulation design. When a high incoming surge voltage is accidently occurred in windings of transformer, it does not distribute equally in the windings. This phenomenon makes electric field concentration and the insulating material could be break. Initial voltage distribute mostly depends on capacitances between winding to winding or winding to core in the transformer. If the C network can be structuralized into the equivalent circuit model and be calculated each capacitance element value by circuit analysis and FEM(Finite Element Method) simulation program, the transformer designer could know the place where the structure is to be modified or the insulation to be reinforced. This method quickly provides the data of the voltage distribution in each winding to the designer.