The strip-type receiving transducer is a key element of the acoustic logging-while-drilling (LWD) tool and its performance directly affects the signal quality. The strip-type receiving transducer is designed and analyzed by the finite element method. The results show that the parallel connection of the receiving crystal has higher receiving sensitivity, and the fluctuation of the receiving sensitivity is less than 20 dB in the insulator stopband of the collar wave. On this basis, the influences of the number of piezoelectric ceramics and geometric size on the receiving sensitivity of the transducer are analyzed. The greater the number of crystals in the strip-type receiving transducer, the greater the thickness of the crystal, the higher the receiving sensitivity within the range of the insulator stopband of the collar wave, which is beneficial to improve the measurement of formation wave signals. The larger the crystal height, the smaller the crystal width, the lower the sensitivity within the range of passband of the collar wave, which is beneficial to reduce the signal energy of the collar wave. The numerical simulation results have a good guidance for the design and fabrication of the strip-type receiving transducer of the acoustic logging-while-drilling tool.