The invention provides a method for establishing a magnetic circuit model of an axial flux permanent magnet eddy current coupling. The method includes the steps that firstly, the width and length of an equivalent rectangular permanent magnet are determined according to the shape of an adopted permanent magnet; then, 1/2 magnetic circuit models corresponding to a pair of poles of the permanent magnet eddy current coupling are established according to a symmetric relation with a conductor eddy current reaction field metered; then, the magnetomotive force, main flux reluctance and leakage flux reluctance of the permanent magnet are calculated according to permanent magnet eddy current coupling design parameters; finally, the magnetomotive force generated by conductor induced current is calculated; the modeling process is finished. According to the method for establishing the magnetic circuit model of the axial flux permanent magnet eddy current coupling, by introducing the magnetomotive force generated by the conductor induced current into the magnetic circuit model and establishing corresponding leakage flux subcircuits, the influence of the induced current on the main flux is effectively metered, and thus the established magnetic circuit model accords with the practical condition better.