This work concerns an investigation on the analysis of the magnetic saturation effects in the three-phase squirrel cage induction generator which is considered as a main device in wind energy conversion systems. The magnetic saturation is considered as an important factor causing destructive effects on power qualities such as harmonics and distortion. Several approaches have been presented in the literature for the modeling of the electric machines considering magnetic saturation. The widely used and precise approach is the finite elements method which is particularly characterized by its high computational time. The novelty in this paper is that a state model has been developed for the healthy conditions of the three-phase squirrel cage induction generators considering the experimental variation of the magnetizing inductance in terms of the magnetizing current. Simulation and experimental tests are provided to extract some important signatures on stator voltages and currents. It will be deduced that the spectrum analysis of stator currents contains useful information on magnetic saturation. Experimental and theoretical results illustrate the consistency of this approach for the modeling and analysis of the squirrel cage induction generators considering the magnetic saturation.