A research on thermal analysis method is conducted for the characterization of heat generation during operation of Interior Permanent Magnet Synchronous Motor(IPMSM) for Light Railway Transits(LRT) in this paper. Efficient cooling of the heat generated in the IPMSM is important because the excessive heat generated from the winding, core and permanent magnet makes it harder for a long time continuous operation of IPMSM. Therefore, in order to analyze the heat generation characteristics of the 110kW-class IPMSM as advanced research for application the IPMSM to the cooling device, the heat transfer coefficients for each component of the 110 kW-class IPMSM were derived and the thermal equivalent network was configured to perform the thermal analysis in this study. Finally, the 110kW-class IPMSM prototype is made and a comparative verification between the test data and the thermal analysis results through its various performance tests are carried out.