The experiments have showed that the actual value of magnetic field in the magnet wound by rare-earth (RE) Ba2Cu3O7−x (REBCO) tape during the operation is less than its design value due to the effect of screening current-induced magnetic field (SCMF). Some simulation methods have been used to calculate the SCMF. In this paper, a modified model is proposed to estimate the SCMF of the magnet based on the previous simple model. The inductance correction and field-dependent critical current density are considered in the modified model. Thereinto, two parameters, named reversal coefficient and Nagaoka coefficient, are introduced in the model. The former is used to track the location of the minimum SCMF value in the charging process, and the latter is applied to correct the induction of the magnet. The numerical results indicate that the SCMF estimated by the modified model is in agreement with those from experiments and finite element method (FEM). Moreover, the effects of electromagnetic and geometrical parameters on the reversal coefficient and Nagaoka coefficient are also investigated. Finally, the model is extended to estimate the SCMF of no-insulation (NI) magnet.