In this study, analysis of core-loss occurring in the magnetic flux modulation core of a linear magnetic gear and the core of each mover is presented, using an analytical method. Losses in electric machines were generally calculated and analyzed using the finite element method (FEM). However, in the case of core-loss, the exact loss value could not be calculated using FEM data. Therefore, we considered the harmonic component of the air-gap magnetic flux density waveform with the modified Steinmetz equation, and performed a more accurate core-loss analysis with magnetic behavior analysis. Thus, we performed a calculated core-loss characteristic comparison with the FEM and the modified Steinmetz equation.