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In this paper, a coupling finite element method (FEM) of magnetic field and circuit of traction power transformer is established, including a two-dimensional finite element model and four-quadrant rectifier circuit. The no-load and short-circuit characteristics of traction power transformer are calculated and the value of impedance voltage is given. The space distributions of flux density, magnetic force line of traction power transformer are painted. The values and waveforms of the core loss and copper loss are calculated. The leakage inductance of the transformer replaces the input inductance of four-quadrant rectifier circuits which includes outer voltage PI control and inner current PR control. From the simulation results, it can be seen that the power factor is nearly one and the DC bus voltage is constant.