In this paper, two-dimensional (2D) analytical model is proposed for axial-flux induction motor (AFIMs) based on the solution of magnetic vector potential equations, which also considers the saturationâ™s effect on the performance of the machine. The model is developed from the quasi- magneto-static Maxwellâ™s equations, which are analytically solved. It considers a uniform distribution of current density in the rectangular shaped rotor/stator slots. By computing the magnetic energy of the machine, this method obtains the inductances and uses them to assess the design performance parameters. The accuracy of the 2-D analytical solutions is verified against those obtained from the finite element method (FEM). The suggested model is generic and applicable to AFIMs with any number of poles and phases. A case study on optimization axial-flux induction motor is presented to evaluate the performance of the proposed model. The proposed method can replace the FEM in designing and optimization of the AFIMs.