In this paper, we propose a new explicit analytical formula of the critical buckling load of double-walled carbon nanotubes (DWCNT) under axial compression. This formula takes into account van der Waals interactions between adjacent tubes and the effect of terms involving tube radii differences generally neglected in the derived expressions of the critical buckling load published in the literature. The elastic multiple Donnell shells continuum approach is employed for modelling the multi-walled carbon nanotubes. The validation of the proposed formula is made by comparison with a numerical solution. The influence of the neglected terms is also studied.