In order to analyze the DC winding induced voltage in the wound-rotor synchronous machine, this paper uses the air-gap field modulation principle to investigate its operation mechanism and harmonic order. By establishing the analytical magneto-motive force (MMF)-permeance model, the DC winding induced voltage per electrical cycle under open-circuit condition, armature reaction condition and on-load condition are deduced. Analytical analysis shows that the MMF function, stator and rotor permeance function are critical factors that influence the harmonic order of the DC winding induced voltage. The analysis results are compared with those predicted by the finite element analysis (FEA). Both non-linear steel and linear steel conditions are accounted in the FEA analysis, and the results show that the analytical deduction result agrees well with the FEA analysis result.