Different analytical and numerical methods for the calculation of the leakage reactance of the transformer are presented in this paper. Finite element analysis is used for the simulation of two-dimensional (2-D) and three-dimensional (3-D) finite model of the transformer. Results are also compared with the experimental and analytical methods. The obtained results from finite element analysis show that both 2-D and 3-D energy methods provide higher accuracy as compared to the conventional and inductance method. Energy method is also less time consuming as compared to other methods like flux element and image techniques. The relative error between experimental and finite element energy method is less than 1%. These methods can be helpful for the manufacturers of the transformers for minimizing the design time of the transformer and it can also increase the performance of the transformer.