For the efficient application of Terfenol-D rod, six kinds of rods were studied. Finite element software was used to simulate and calculate the hysteresis loss, eddy current loss, coil resistance, and inductance of the rods at different frequencies and currents. Three kinds of rods were manufactured, the coil resistance and inductance were measured. The results showed that the hysteresis loss, eddy current loss, and coil resistance increased, and the coil inductance decreased with the increase of frequency. As the current increased, the hysteresis and eddy current losses of the rods increased, the coil resistance and inductance remain unchanged; the hysteresis loss, eddy current loss and coil resistance of the radially slit rod were the largest, whereas that of the slit rods were larger than those of the sliced rods, the coil inductance of the slit rods was less than that of the sliced rods. The numerical calculation values of coil resistance and inductance at different frequencies and currents basically agreed with the experimental test values.