Described herein are embodiments of a method and system for determining power loss in an inductor. In accordance with one aspect, a method is provided of determining power loss in an inductor. The method comprises modeling an inductor's windings and core using electromagnetic field simulation finite element analysis software executing on a computer. A ratio of AC resistance to DC resistance (Rac/Rdc) for the inductor is determined at one or more frequencies using the electromagnetic field simulation finite element analysis software. DC resistance (Rdc) of the windings is determined based on material properties and shape of the windings. The DC resistance is used to determine AC resistance (Rac) using the ratio, Rac/Rdc. Winding power loss at the one or more frequencies is determined based on the AC resistance (Rac). Core loss of the inductor is determined at the one or more frequencies using a core loss versus frequency curve. Winding power loss and core loss are summed at each of the one or more frequencies to determine total power loss at the respective frequency.