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An extension of the partial element equivalent circuit (PEEC) method for magnetic materials modeling in the frequency domain applied on toroidal magnetic inductors with rectangular cross section is presented in this paper. The extension is performed by coupling the PEEC method and the boundary element method (BEM). The influence of magnetic material is modeled by distributions of “fictitious magnetic currents and charges” existing on the surface of a magnetic body. To verify the developed 3-D PEEC model, calculated and measured impedances are compared for two winding arrangements employing a ferrite T38 core. A good agreement between the PEEC simulation and measurements is presented up to the first resonant frequency. The described PEEC modeling approach enables 3-D electromagnetic simulations with much less computational effort than given for existing finite element method (FEM) simulators.