To take advantage of merits of higher output-power and efficiency of bolt-clamped transducer, a ring type traveling wave ultrasonic motor using cantilever type composite transducer is proposed in this paper. In this new design, two cantilevers are set for the coupling between ring and transducer. Two standing bending waves (with phase difference of π/2 on time and space, respectively) are generated in the ring by the bending-longitudinal vibrations of transducer. Thus, a flexural traveling wave can be excited. The working principle of proposed motor is analyzed. The stator is designed and analyzed with FEM, and the motion trajectories of nodes on the teeth are analyzed. The results of transient analysis verify the theoretical feasibility of proposed design. The results of this paper could guide the development of this new type of motor.