This paper proposes a novel mesh-based equivalent magnetic network (EMN) model for performance analysis and optimal design of permanent magnet (PM) machines. The key contribution of the EMN model is that a generalized air-gap model solution is proposed by considering the machine motion of PM machines. Meanwhile, a modular modeling method is presented, and then the optimal design of PM machines can be investigated without repetitive programming and modeling. Two kinds of mesh elements are comprehensively utilized in the EMN model, and a hybrid rotor PM (HRPM) machine with interior PM and surface PM configuration is selected as an example to illustrate the development processes of EMN model. Meanwhile, the electromagnetic characteristics of HRPM machine are calculated by the proposed EMN model, such as back electromotive force, air-gap flux density distribution, and average torque. Finally, the accuracy and effectiveness of the proposed EMN model are verified through comparisons with finite element analysis and experimental tests.