The article outlines the theoretical principles and calculation of an induction levitator with a short-circuited winding, which is the main element of various electrical devices. Automation of technological processes often involves the need of automatically controlling the vertical position of a working mechanism’s moving part using an external force and AC voltage. In doing so, it is necessary to measure the external force, stabilize the current at a variable load, and change the rated current values through the load. Electromechanical converters with levitation elements, despite the simplicity of their design, effectively solve these problems. By automatically changing the voltage across the excitation winding terminals, it is possible to smoothly adjust the levitation winding working stroke and the working mechanism position. A mathematical model of an induction levitator has been developed, which describes the relations of magnetic, electrical, thermal and mechanical circuits, and allows the induction levitator parameters to be determined. A procedure for calculating an induction levitator with a stepped magnetic circuit is described. The obtained analytical expressions can be used in the calculation and design of electrical devices for various purposes containing levitation windings.