When vacuum preloading is applied with vertical drains, the rate of consolidation can be increased, and the stability of an embankment is enhanced due to the inward lateral movement. The aim of this study is to develop an analytical solution for vacuum preloading that accurately captures the more realistic variations in compressibility and permeability in actual ground conditions as a result of drain installation. The soil samples were obtained from various locations after drain installation to determine the characteristics of soil surrounding the vertical drain in terms of compressibility and permeability. The main differences between the proposed and conventional models are described by considering the stress history and preloading pressure. The effect of pre-consolidation pressure and the magnitude of applied preloading are examined through the dissipation of average excess pore pressure and associated settlement. The analysis of a selected case history employing the writers' solution indicates improved accuracy of the predictions in comparison to the field measurements.