A switched flux hybrid magnet memory motor was designed. The simulation model was established in Ansoft Maxwell 2D software. The operation principle of the motor was analyzed. The flux adjusting of the motor was researched by using the finite element analysis method. The motor′s flux_lines, fluxlinkage of winding A, reverse electromotive force curves, magnetic flux density curves and torque waveform curves under different magnetizing state of AlNiCo PMs were given. The simulation results showed that compared with the traditional permanent magnet synchronous moto, the motor had good flux adjusting ability.