Impedance matching is very important to improve transmission efficiency not only for wireless communication but also for wireless power transfer. Lumped reactive elements are usually used in the impedance matching circuit. These reactive components such as inductors and capacitors have ohmic loss. An exact approach to design the lumped matching circuit at the presence of the ohmic loss is derived in this paper. Moreover, the condition for selection of impedance matching topology is deduced not only for lossless case but also for lossy case. Finally, the effect of the ohmic loss in the impedance matching circuit on the transmission efficiency is demonstrated quantitatively.