The unilateral axle-counting sensor, as a new type of axle-counting device, is gradually substituting other axle counters owing to its simple structure and great performance, which lead to an excellent application prospect. In this paper, we analyze the working principle of this sensor and establish an equivalent magnetic circuit model based on the sensor structure characteristics and its spatial relation with the track and wheel. In addition, we propose a rapid calculation method for magnetic circuits based on the division of the magnetic flux area according to the magnetic flux distribution characteristics of the sensor and provide the calculation expressions of reluctance for each area; furthermore, we calculate the induction electromotive force generated in the induction coils. Using 3-D finite-element method and the actual measurement of the induction electromotive force, the correctness and rapidity of the magnetic circuit model and the method of calculating the induction electromotive force are proved.