This paper deals with characteristic analysis method using d-q axis equivalent circuit considering iron loss in a single-phase line-start permanent magnet synchronous motor. The iron loss resistance to account for the iron loss is included in the equivalent circuit to improve the modeling accuracy. Furthermore, for the improved calculation of the iron loss, the iron loss is calculated from the magnetic flux density by 2-dimensional finite element method. The result is represented as the iron loss resistance and connected in parallel with the total induced voltage. Therefore, the currents can be expressed as the summation the output current with the current corresponding to the iron loss. Finally, the steady state characteristic analysis results are compared with the experimental results to verify this approach.