Reservoir performance depends on many factors, and the most important one is permeability anisotropy. In addition, with high heterogeneity, it is essential to find unique relationships to predict permeability. Therefore, this study aims to predict vertical permeability based on horizontal permeability and porosity and to find new equations for carbonate reservoirs. This work relied on the 398 measured points of cores data collected from several wells in carbonate reservoirs. A new correlation for predicting vertical permeability for the whole data (369 samples) as a function of horizontal permeability and porosity has been developed. The results indicate that this new correlation can estimate the vertical permeability with correlation coefficients (RSQ) of 0.853. Then, the used data were divided into four groups depending on the Kv/Kh values: less than 0.1, 1–0.1, 1–10, and more than 10, and a new correlation for permeability prediction for each group has been developed with good RSQ values of 0.751, 0.947, 0.963, and 0.826, respectively. The previous studies lack the correlations to predict vertical permeability in carbonate reservoirs, so this study can be considered as a reference for similar cases.