A new torque estimator for switched reluctance motor (SRM) drives based on 2-D rotary regression analysis is presented in this paper. The proposed torque estimator is composed of a bicubic regressive polynomial as a function of rotor position and input current. The regressive coefficients can be computed offline or online from the torque characteristics acquired either experimentally or from numerical computation. Furthermore, a torque estimation method by taking mutual coupling into consideration is proposed. It can be seen that the estimated and experimentally obtained self-coupling and mutual-coupling torque characteristics are in good agreement with each other. In addition, the dynamic torque waveforms with and without the mutual coupling, estimated by the proposed estimator, are found to be virtually the same as those obtained from the bicubic spline interpolation for SRM drives with single-pulse voltage, hysteresis current chopping, as well as with voltage pulse width modulation control. The success of all the case studies being reported is a good validation of the usefulness and accuracy of the proposed real-time torque estimator that, as described in this paper, can be used to quickly estimate the instantaneous output torque of SRM drives.