This chapter aims in presenting the methods for the accurate estimation of highly non linear phase inductance profile of a switched reluctance motor (SRM). The magnetization characteristics of a test SRM is derived from the SRDaS (Switched Reluctance Design and Simulation) simulation software. Statistical interpolation based regression analysis and Artificial Intelligence (AI) techniques are used for developing the computationally efficient inductance model. Multi Variate Non linear Regression (MVNLR) from the class of regression analysis and Adaptive Neuro Fuzzy Inference System (ANFIS) under the class of AI are implemented and tested on the simulated data. Non linear Inductance profile L(I,θ) of SRM is successfully estimated for the complete working range of phase currents (Iph). At each Iph, L(I,θ) values are estimated and presented for one cycle of rotor position (θ). Estimated inductance profile based on the two proposed methods is observed to be in excellent correlation with the true value of data.