This paper proposes a novel torque ripple model of V-Shape interior permanent magnet (IPM) synchronous machine based on the general field modulation theory (GAFMT). Firstly, the magnetic field modulation behavior of a 12-stator-slot/8-rotor-pole (12/8) IPM machine is discussed, where the expressions of permanent-magnet-excited (PM-excited) and armature fields are derived. Secondly, the total torque ripple is divided into three components, namely, the PM-excited cogging torque, the armature cogging torque, and the modulation torque ripple. Additionally, the relationship between the field harmonics and the torque ripple is discussed based on the GAFMT. Then, a finite element analysis (FEA)-assisted dual fast Fourier transformation (FFT) method is proposed to obtain the accurate value of the field amplitude for torque ripple calculation. The field analysis results based on the GAFMT and the proposed torque ripple are then validated by comparing their results with those obtained from the FEA simulations, and a good agreement is observed, demonstrating the effectiveness of the field analysis and the proposed torque ripple model. Finally, experiments on a prototype 12/8 IPM machine demonstrate the validity of the torque ripple model, providing an effective method for torque ripple suppression of IPM machines.