It is a known cost‐effective method to employ a DSP‐based electric machine emulator (EME) for motor control unit testing, this paper introduces a novel approach to enhance the emulator's accuracy. The inaccuracies caused by terminal voltage sampling errors in the motor control unit and voltage distortions in the inverter are addressed in this paper. An advanced equivalent voltage acquisition technique, which samples the duty cycle‐amplitude of the inverter's terminal voltage, is developed. Leveraging the acquired equivalent voltage data, a novel voltage compensation strategy that providing more accuracy in EME performance is proposed. The mathematical foundation of the EME is established using Kirchhoff's voltage and current laws. These findings are independently validated through simulations and experiments. The results provide robust evidence that the proposed equivalent voltage acquisition and compensation strategies can enhance the accuracy of the EME.