This paper presents a design of a high power nonlinear dry-type electric transformer used in All-Electric Ship (AES) and marine applications. Some nonlinear transformer models can be found in the literature. However, in these models, the effects of hysteresis and saturation in the core and windings are modeled using lookup table blocks. A lookup table, by definition, uses an array of data to map input values to output values, approximating a mathematical function. As the data array is static, the model is valid just for one defined transformer. The proposed model is dynamic and parameterized. It can be used in any marine system regardless the power level. To analyze the dynamic and/or steady state behavior of the proposed dry-type transformer, it has been evaluated in simulation using Matlab/Simulink.