Abstract. This paper concerns the transmission eigenvalue problem for an inhomogeneous media of compact support containing small penetrable homo-geneous inclusions. Assuming that the inhomogeneous background media is known and smooth, we investigate how these small volume inclusions affect the real transmission eigenvalues. Note that for practical applications the real transmission eigenvalues are important since they can be measured from the scattering data. In particular, in addition to proving the convergence rate for the eigenvalues corresponding to the perturbed media as inclusions ’ volume goes to zero, we also provide the explicit first correction term in the asymptotic expansion for simple eigenvalues. The correction terms involves ...