The uneven pore water distribution in unsaturated soil will cause water movement, change the hydraulic and mechanical characteristics of soil, and then cause soil damage. Therefore, it is important to study the hydraulic characteristics of unsaturated soil. In this paper, the law of conservation of mass and Darcy’s law were used to analyze the unit soil after seepage to obtain a continuous equation. Combined with the soil-water characteristic curve (SWCC), the effect of matric suction and permeability coefficient of unsaturated soil on infiltration rate is substituted into the equation. Through the analysis of pore water stress of the unit soil, the function of the unsaturated permeability coefficient with the effective saturation degree is obtained, and the theoretical formula of the one-dimensional infiltration rate of unsaturated soil is derived. Compared with other models, this formula has fewer parameters and is easy to use.