In this paper, an efficient new method named wave concept iterative process （WCIP） based on transformation between space domain and spectral domain is introduced. The derived WCIP theory formulation is presented in detail. A new kind of LTCC multilayer structure is analyzed using the iterative method. The approach involves the mixed magnetic and electric field equation and S parameter extraction technique based on a simple form of matched load simulation. The whole process is illustrated by MATLAB programming, so that frequency response of S parameter is determined. The numerical results are compared with the simulation results and good agreement shows the validity and usefulness of the iterative method given in this paper.