In this paper, we focus on an evaluation of core losses in permanent magnet synchronous motors (PMSMs) made of nanocrystalline magnetic materials under inverter and sinusoidal excitations. To discuss the core loss properties of a nanocrystalline motor, comparison with PMSMs made of amorphous magnetic materials and non-oriented (NO) silicon steel sheets is also performed. Under sinusoidal excitation, the core losses of the nanocrystalline motor were about 0.7 and 0.5 times smaller than those of the amorphous and NO motors, respectively. In particular, we found that the nanocrystalline motor reduced the core loss on the basis of time harmonic components in comparison with not only the NO motor but also the amorphous motor. On the basis of our results, the nanocrystalline motor is expected to be suitable for use in high-speed and high-frequency regions.