In this study, a disk-shaped step-down piezoelectric transformer that consists of Mg:LN single crystals operating in the extensional vibration mode was proposed, and its characteristics wre investigated. This paper proposed the PT using ring/dot electrode which had an outer diameter of 22 mm, a narrow annular gap circle of 1.0 mm and a thickness of 1.0 mm. The transformer was poled along the thickness direction. The top surface was covered by two ring-shaped electrodes separated by a narrow annular gap, and the regions covered by the outer and inner ring electrodes serve as the output and input parts of the transformer, respectively. The bottom surface was fully covered with a gold electrode. Moreover, according to the physical equivalent circuit model of the latest invented vibration mode, PT of Mg:LN single crystals were fabricated and characterized. Finally, we investigated the gain under different load resistances and input voltage.