A new type of ring-type piezoelectric ceramic transformer consisting of two concentric piezoelectric ceramic rings polarized axially and radially is analyzed. When the electric load impedance is considered, the electromechanical characteristics of the piezoelectric transformer are studied. The dependency of the voltage gain, the efficiency (the ratio of the output over the input power) and the effective electromechanical coupling coefficient of the piezoelectric transformer on the geometrical dimensions are analyzed. Meanwhile, the load dependency of the electromechanical parameters of the transformer is also investigated. It is concluded that the electromechanical characteristics of the piezoelectric transformer are closely related with the geometrical dimensions and the load electrical impedance. The conclusions can be used for the optimization design of the ring-type piezoelectric ceramic transformers in the engineering applications.