Purpose. Mathematical modeling of high-frequency periodic processes in winding power transformers to improve the technology of their design and operation. Methodology. The methods of the formation of mathematical models for the research of high-frequency periodic processes in transformers and methods of solving systems of partial differential equations are applied. Findings. The mathematical model for the research of high-frequency periodic processes in two-winding transformers, with adequate considering of electromagnetic connections of windings and structural parameters of transformers, is created. Originality. To form a mathematical model for the research of high-frequency periodic processes, a substitute scheme of a two-windings transformer, taking into account the parameters of the electric and magnetic circuits of windings and electromagnetic connections between them, is proposed. Practical value. The mathematical model, which allows analyzing the voltage distribution in the transformer windings for high-frequency periodic processes in windings, and adjusting their insulating abilities, is created.