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The permanent-magnet induction generator (PMIG) is a new type of induction machine that has a permanent-magnet rotor inside a squirrel-cage rotor. In this paper, a new technique for the magnetic field analysis of the PMIG is proposed. The proposed technique is based on the PMIG's equivalent circuit and the two-dimensional finite-element analysis (2D-FEA). To execute the 2D-FEA, the phasors of primary and secondary currents are calculated from the equivalent circuit, and the input data for the 2D-FEA is found by converting these phasors into the space vectors. As a result, the internal magnetic fields of the PMIG can be easily analyzed without complicated calculations.