High-altitude electromagnetic pulse can couple oil-gas pipeline systems to cause damage to electronic equipments. In order to study the effects of high-altitude electromagnetic pulse on buried pipeline, the differential equations for high-altitude electromagnetic pulse coupling buried pipeline are derived based on Maxwell’s equations. The coupling equations are solved in frequency domain, and then the induced current and voltage waveforms are obtained by using inverse Fourier transform. The currents and voltages at both ends and in the middle of pipeline are calculated. It is shown that the peak values of the currents along the pipeline don’t vary much. The voltages at both ends of the pipeline are larger and the voltage polarity at one end is opposite to another, while the voltages in the middle of the pipeline are smaller. Finally, the effects of system characteristics on induced currents are presented, such as the length of the pipeline, the depth of the pipeline, the radius of outer surface of the pipeline and the conductivity of the ground. The results of these studies are applicable to electromagnetic pulse protection.