Single phase induction motor(SPIM) is used widely because it is driven by single phase source. However, the efficiency of the motor is not good due to saturation of magnetic material. To analyze the motor accurately, the magnetic saturation characteristics should be considered in analysis of equivalent circuit. In this paper, lumped parameter of circuit are derived from multi phase induction motor using method of symmetrical coordinates. Also, we presents a method for the equivalent circuit analysis of SPIM using magnetic saturation rate. The magnetic nonlinearity is considered deriving magnetizing reactance from voltage-current saturation curve. As a results, current characteristic, torque, output and efficiency are shown through analysis of equivalent circuit. A simulation results of SPIM will be used to improve the characteristics and efficiency of motor.