In various applications of ultrasonic waves, the ultrasonic transducer is the key device of ultrasonic testing and ultrasonic imaging. Compared with the traditional piezoelectric transducer, the capacitive micromachined ultrasonic transducer (CMUT) has many striking advantages, such as low impedance, high bandwidth, easy integration and low cost, and it is expected to become a next generation of mainstream products. In this paper, a CMUT structure for underwater-imaging applications is designed, and the finite element model is established by using COMSOL software, then the modal analysis, harmonic response analysis, electromechanical coupling analysis and transient analysis are carried out. As a consequence, the key parameters of CMUT are obtained, namely resonance frequency, voltage collapse and electromechanical coupling coefficient. For the processed CMUT line array consisting of 16 elements, a test system is built and the emission performance, receiving performance, directivity, bandwidth and preliminary imaging of the designed transducer are tested and analyzed. The results show that the designed CMUT array can meet the requirements of underwater-imaging applications.