In this paper, by using of the magnetic equivalent circuit method, an accurate model of a switched reluctance motor with respect to the traditional modeling is presented. This modeling is perfectly considered the magnetic saturation effects of iron core and space harmonic distribution of stator and rotor poles. The presented magnetic equivalent circuit model evaluated the motor performance in different situations with low time consumption properly. This method has less complexity for dynamic modeling of switched reluctance motor. Also, this modeling can be used for optimal designing of motor performance in various applications with high accuracy and precision. In this paper, the various sequence of phases excitations with different overlap between two adjacent phases voltages are evaluated to choose the appropriate excitation. Finally, the proposed magnetic equivalent method results are validated by comparing the corresponding finite element analysis. The simulations results confirmed the usefulness of the proposed model.