Wilkinson power divider with the simple design method and outstanding performance are widely used in RF/microwave front-end transceiver. A novel and simple miniaturized power divider based on equivalent circuits is presented. A bandwidth of 200MHz, the center frequency of 1.616 GHz Compass Navigation System (CNS) multilayer power divider was designed and measured based on Low Temperature Co-fired Ceramic (LTCC) technology. Its performance can be comparable to Wilkinson power divider, with the overall area of 6mm × 6mm × 0.6mm, only one-tenth of the size of the Wilkinson power divider.