In this paper, utilizing void ratio-effective stress and void ratio-permeability relationships, a system of two nonlinear partial differential equations is derived to predict the consolidation characteristics of normally consolidated (NC) and overconsolidated (OC) soft clays subjected to cyclic loading. A developed feature of the coefficient of consolidation containing two key parameters is emerged from the differential equations. Effect of these parameters on the consolidation characteristics of soft clays is analytically discussed. It is shown that the ratios between the slopes of e-$log{sigma}^{prime}$ and e-log k lines in the NC and OC states play a major role in the consolidation process. In the companion paper, the critical assumptions made in the analytical discussion are experimentally verified and a numerical study is carried out in order to examine the proposed theory.