In this paper, we present a space-time pulsed eddy current (PEC) array for nondestructive testing (NDT) of wellbore casings using a multiple-input multiple-output (MIMO) technique. On the basis of a multilayered cylindrical wellbore model, a MIMO-PEC model is developed according to the phase shift characteristics of the PEC response corresponding to different transmitting-receiving (TR) distances. To achieve a more significant number of TR channels than in a traditional receiving array to reduce the complexity of the transmitting-receiving structure, a space-time transmission scheme is proposed to recover multiple TR channels. Moreover, a specific space-time MIMO array structure is designed to maximize the number of independent TR channels. The effectiveness of the proposed method is verified by applying the proposed MIMO array to a borehole PEC system for NDT of wellbore casings. The simulation and experimental results demonstrate that using the array structure and space-time transmission scheme proposed in this paper, a MIMO structure consisting of M transmitters and N receivers can be equivalent to a transceiver system with a single transmitter and M×N receivers. Thus, MIMO technique can be effectively applied to PEC-NDT systems and drastically reduce the cost and complexity of the PEC system.