The 1-3 piezoelectric composite cylindrical transducer is composed of several 1-3 piezoelectric composite bars and a tubular metal backing, the 1-3 piezoelectric composite bars were adhered closely on the outer wall of tube. In order to analyze the performance of transducer, two type models were established by using FEM in ANSYS. The structure of model I was same to that of actual transducer. 13 piezoelectric composite was equated with the approximate piezoelectric element in model II. The lumped characteristic parameters of piezoelectric element were obtained according to Smith′s model. The transducer was respectively simulated by two models under the condition which the inner radius of transducer was set up in the range of 20 mm to 50 mm, and step is 5 mm. The resonant frequencies of radial vibration mode in two type models were very close. The average relative deviation was only 2.3%. Thus, model II is able to replace model I in the transducer simulation in order to simplify computing. The admittance, transmitting voltage response and receiving voltage sensitivity near the radial vibration frequency of the transducer were simulated by model II.