The wireless power transmission (WPT) of an autonomous underwater vehicle (AUV) tends to have non-negligible eddy current loss with increasing frequency or coil current due to the conductivity of seawater. In this paper, the inductor-capacitor-capacitor and parallel (LCC-P) topology and the magnetic coupler with an H-shaped receiver structure are chosen to achieve a compact system on the receiving side. The conditions for constant current output of the LCC-P topology are analyzed based on the cascaded circuit analysis method. The traditional parameter design method does not consider the influence of eddy current loss on the system circuit model, by introducing the equivalent eddy current loss resistance at both the transmitting side and receiving side, a modified circuit model of the WPT system in the seawater condition was obtained. Afterward, a nonlinear programming model with the optimal efficiency of the constant current mode as the objective function is established, and the genetic algorithm is used to obtain the optimal system parameters. An underwater AUV-WPT prototype was built and the finite element simulation and experimental results verified the theoretical analysis.