To solve the problem of wall thickness reduction and defects of oil and gas pipeline caused by corrosion or erosion, a remote field eddy current (RFEC) testing method with coaxial double coil structure is proposed to detect corrosion residual wall thickness of oil and gas gathering pipelines. Based on electromagnetic field theories, RFEC technology is theoretically analyzed. The theoretical model of RFEC detection for coaxial double coil structure is established. The relationship between the voltage phase of detection signal and the wall thickness of pipeline is derived, and an evaluation method of the residual wall thickness of the pipeline based on the phase trough time of the RFEC detection signal is proposed. The parameters of RFEC probe are optimized by Finite Element Method, and the detection system is designed on the basis of it. The practicability and the correctness of the theoretical model of the detection system are verified by experiments. It can be used to detect the residual wall thickness of pipelines in real time under different media conditions.