Transformers are one of the most precious elements of the electric power system. Stability and reliability of the electric power network mainly depend on the working of the transformer. Leakage reactance of the transformer is one of the important factors and accurate calculation of the leakage reactance is necessary for the transformer designers and electric distributors. Leakage reactance of the transformer depends on the geometry of the transformer. There are many different methods for the calculations of the leakage reactance however mostly are usable when the axial heights of the high voltage and low voltage windings are equal. When the axial heights of high voltage and low voltage windings are asymmetric most of the analytical methods are not reliable. In this study, a new analytical method is introduced for the calculation of the leakage reactance. Fourteen different transformers are investigated in this study and four of them are presented in this paper. The results of the new analytical method are compared with the experimental results. Other analytical and numerical methods are also compared with this new method. Results show that this method is more reliable and accurate as compared to the other analytical methods. The maximum relative error between short-circuit test and proposed method for these fourteen transformers was less than 2.8%.