Numerous studies have reported anomalous ultralow frequency (ULF) electromagnetic fields preceding earthquakes. In this paper, we estimate the current intensity responsible for generating the earthquake‐related ULF fields under the assumption that the origin is a current flowing at the hypocenter and that it has the same frequency dependence for all cases. To estimate current intensity, we perform ULF electromagnetic field simulations with an absorbing boundary condition developed in this study, taking into account the conductivity distribution of the Earth's crust. We analyze 11 earthquakes, including those that occurred in Loma Prieta, Spitak, Guam, Biak, Kagoshima, Iwateken Nairiku Hokubu, Izu swarm, Jammu and Kashmir, Alum Rock, Wenchuan, and L’Aquila. Our results show that, for nine out of the 11 events, there is a positive correlation between current intensity and earthquake magnitude, suggesting that the measured ULF fields originate from seismic activity and supporting our assumptions.