Based on MATLAB/Simulink a new parameter varying equivalent magnet network method was presented for a double-layer high density IPMSM. It took full consideration of leakage flux of rotor and automatically adjusted the magnetic permeability of each part through a parameter varying segment. Core saturation was taken into account so that the calculation accuracy of parameter varying equivalent magnet network method was greatly promoted. With this network method, the effects of rotor parameters to motor no-load electromagnetic performance and the air gap flux density waveform were analyzed. A fast and efficient way for original design of the high density IPMSM was proposed by the equivalent magnetic network method.