Observations show that propagating magnetohydrodynamic (MHD) waves are ubiquitous in the solar atmosphere. The technique of MHD seismology uses the wave observations combined with MHD wave theory to indirectly infer physical parameters of the solar atmospheric plasma and magnetic field. Here, we present an analytical seismological inversion scheme for propagating MHD waves. This scheme uses the observational information on wavelengths and damping lengths in a consistent manner, along with observed values of periods or phase velocities, and is based on approximate asymptotic expressions for the theoretical values of wavelengths and damping lengths. The applicability of the inversion scheme is discussed and an example is given.