Stator winding inter-turn (SWI) short-circuit fault and broken rotor bar (BRB) fault are two common faulty modes of the squirrel cage induction motors (SCIMs). These faults have various impacts on the motor performance and may be rooted in each other; therefore, they may be presented at the same time in an SCIM. This paper proposes an exact analytical model for the SCIMs, which is able to include the SWI and BRB faults presenting simultaneously or individually with variable severities. Multiple coupled circuit modeling is applied to achieve such analytical model. The magnetic saturation effect is included in the model by applying appropriate air gap function and the rotor bars skew effect is taken into account by using 2-D winding function theory. Simulation results as well as the corresponding experimental results approve the presence of the same harmonics in the stator line currents due to the proposed faults. However, more detailed study gives solution for discrimination of the faults. The attained analytical model can be applied to examine the performance of the related fault diagnosis methods and to design novel fault diagnosis techniques including the model-based ones.