In this study, SPICE models of a multi-antenna system for transmitting and receiving are proposed. The radiation fields at a given direction can be predicted by the transmitting SPICE model when the system is excited by a set of excitation sources. The receiving SPICE model can be used to calculate the coupling voltages on each antenna's load when the antenna system is illuminated by plane waves. The proposed modelling method for transmitting and receiving is a three-step approach. In the first step, the radiation properties of the system are characterized by a minimal number of linearly independent radiation fields. Then, the transmitting and receiving equivalent models are established based on the radiation properties of the system. Finally, the equivalent models are approximated by rational functions and converted to SPICE models. Once these models have been established, the characteristic properties of the excitation signals can be changed arbitrarily without re-establishing the models. Besides, both models can be incorporated with any terminations. The proposed SPICE models have been validated by a commercial full-wave simulator. The feature selective validation method is used to quantify the models' results. Experiments are also conducted to validate the models.