The mutual inductance between the transmitting and receiving coils is one of the critical parameters of the wireless power transfer system, and an accurate mutual inductance calculation method can provide a reliable theoretical basis for the optimization of the coil structure of the wireless power transfer system. The addition of magnetic medium materials on both sides of the rectangular coil can effectively increase the mutual inductance, but there is no study on the mutual inductance calculation method for a rectangular coil with a bilateral bounded single-hole type magnetic medium. In this paper, the space vector domain synthesis method is proposed to solve the analytical value of mutual inductance, which solves Poisson’s and Laplace’s equations by separating the variables to obtain the magnetic vector potential in each region, and combines with the magnetic field boundary conditions to obtain the mutual inductance calculation formula by utilizing different dimensional vector syntheses. An experimental set of wireless power transfer systems with bilateral bounded single-hole type magnetic medium rectangular coils is also constructed, and the maximum error of the mutual inductance calculation value, experimental value, and simulation value is 5.82%, which verifies the effectiveness of the method proposed in this paper. The model proposed in this paper saves 5.86% of the material compared with the rectangular magnetic medium structure under the same parameters, and the mutual inductance is up to 99% of the rectangular magnetic medium structure. © 2024, Electromagnetics Academy. All rights reserved.