In this paper, we present equivalent circuit for immersed capacitive micromachined ultrasonic transducers (cMUT), based on an accurate parametric model. We also present an accurate approximation for the radiation impedance cMUT. We develop a design approach for immersed cMUTs using the equivalent circuit. We demonstrate that the equivalent circuit predicts the performance of a cMUT array element composed of many cells in parallel. We investigate the applicability of the equivalent circuit in designing cMUT array elements. © 2006 IEEE.