Recently, power conversion systems (PCSs) have exhibited high efficiencies and miniaturisation, and this trend is expected to grow in the future. An important component of the PCS, which accounts for a significant portion of its volume, is the transformer (TR). However, it is difficult to achieve a significant increase in the efficiency and reduction in the volume of a PCS using a conventional TR, as the conventional TRs do not offer much scope for further optimisation. To overcome this limitation imposed by the conventional TRs, a novel and practical high-frequency coaxial TR, named the shell-type coaxial TR (SCTR), is proposed in this work. A useful and strategic analysis and design method, which covers the overall development process from the design stage to the experimental validation stage of the proposed high-frequency SCTR, is also proposed. The usefulness of the proposed SCTR and the analysis and design method are verified by designing an SCTR for a 50 W DC/DC converter and conducting experiments on it. It is found that the use of the proposed technique can cause a significant increase in the efficiency and power density of the PCS