In this paper, a fast design method is developed based on a combination of analytical and finite element (FE) methods for variable flux reluctance machines (VFRMs). Firstly, the feasibility of using analytical method in optimization under unsaturated condition is confirmed. Then, by applying the FE method, the influence of magnetic saturation is considered. Compared with the unsaturated case, the optimal split ratio for magnetically saturated case is increased by 1~1.2 times, the optimal rotor pole arc ratio varies within 0.33~0.44, and the stator pole arc ratio remains the same. Based on this, the optimal structural parameters can be initially set by analytical method and then refined by the FE method. Due to the fast speed of analytical method, less variable counts and narrowed variation ranges, the proposed method is significantly faster than the conventional pure FE based global optimization. Finally, the proposed method is used for optimizing the 6-stator-slots VFRMs having different numbers of rotor poles. The 6-stator-slot/7-rotor-pole (6s/7r) VFRM is found to have the highest torque density. It is prototyped and tested to verify the analyses.