Real-time simulation of induction machine plays a crucial role in hardware-in-the-loop (HIL) scenarios. Due to the key advantages offered by magnetic equivalent circuits (MEC) for modeling induction machines compared with finite element analysis and electric equivalent circuits in terms of computational expense and achieved accuracy, this paper proposes a real-time nonlinearMECof the induction machine. Themodel is emulated in real time on the field-programmable gate array (FPGA) by exploiting the parallel hardware architecture and fully pipelined arithmetic processing. The performance of the FPGA-based real-time emulated induction machine model is investigated and compared with the behavior of an experimental setup of induction machine and finite element results to demonstrate the effectiveness and accuracy of proposed approach for HIL applications.