A variable valve timing (VVT) can improve fuel efficiency, reduce CO2 emissions and increase torque output enabling optimization of these outputs at different engine conditions. To achieve VVT in internal combustion engine, new devices such as mechanical, hydraulic, motor-driven and electromagnetic actuators have been developed in past years to replace the conventional camshaft valve train system used currently. Among these, the electromagnetic actuator using solenoids is the most advanced system to provide the most flexibility to valve timing, but it has critical drawback of high power consumption. In this paper, a new electromagnetic engine valve actuator that uses permanent magnets to latch the valve is introduced.