In order to provide a convenient and fast calculation method, the equivalent circuit of a novel stacked piezoelectric cymbal vibrator is studied. The equivalent circuit model of the piezoelectric stack is derived by combining the equivalent circuit models of the thin piezoelectric disk and electrode. The equivalent circuit of the cymbal structure is then derived. The equivalent circuit model of the stacked piezoelectric cymbal vibrator is further proposed. The output axial displacements and output forces of the cymbal vibrator under different excitation voltages are investigated using the equivalent circuit model. The effectiveness of the equivalent circuit has been verified by comparing it with the finite element method. Furthermore, the equivalent circuit method has a much faster calculation speed than the finite element method.