The IPT system has been studied for underwater applications such as autonomous underwater vehicles (AUVs) and subsea sensors. However, it rarely comparatively shows the performance of the IPT system in air, freshwater, and seawater. Based on the fore‐mentioned research background, this paper presents a survey of the properties of the IPT system in different mediums. Here, a 100 W power‐level experimental IPT prototype is built and tested. The resonant frequency is set at 300 kHz with a gap range from 10 to 190 mm. The comparison is focused on the efficiency, mutual inductance, coupling coefficient, coil resistance, and quality factor of the IPT system. The IPT system is placed in air, freshwater, and seawater with the same settings. What's more, the magnetic fields of coupling coils in air, freshwater, and seawater are presented in this paper. This paper could be acted as a reference to optimize the IPT system and facilitate future IPT research for underwater applications by analysing the performance of the IPT system in different mediums. The 3D Ansys Maxwell simulation of the IPT system is also given here to study the magnetic fields.