We have developed a dynamic analytical circuit model to simulate the performance of switched reluctance motors (SRMs). Our model expresses flux linkages as multiple decoupled one-argument functions, either current dependent or rotor position dependent, instead of one two-argument function dependent on both current and rotor position. We propose a novel approach for the computation of the air gap permeance at various rotor positions. By using this analytical model, the performance of a SRM can be simulated very efficiently and with improved accuracy. As an application example, we present a simulation of an 8/6 pole SRM in the system domain, and compare the results with transient finite element analysis (FEA) solutions.