This paper introduces a novel approach for the detection of rotor faults in asynchronous machines, based on wavelet analysis of the stator phase current. To be more specific, the measured stator phase current is filtered through a complex wavelet. Theoretical analysis validates that the spectrum of the modulus of the result of the filtering is free from the fundamental supply frequency component, and the fault characteristics can be highlighted. This is advantageous, especially if the induction machine operates at low slip values, where the characteristic frequency components of the rotor fault are very close to the fundamental frequency component. At the same time, by matching the wavelet function to the frequencies of the faulty components, a narrow bandpass filter at the frequency region of the fault characteristic spectral components is obtained. Furthermore, in the context of this paper, features extracted using the proposed technique are used as input to a support vector machine classifier that is employed for the detection of the rotor fault. Simulation and experimental results demonstrate the effectiveness of the proposed technique.