Switched reluctance machines (SRMs) are normally designed to operate in the saturated region, and phase currents have some overlap to achieve better output torque performance. This results in mutual saturation effects. These effects are analyzed in detail in this paper. The experimental results show the influence of both the magnitude and direction of the leading phase current and the influence of the trailing phase current on the flux linkage of the working phase. In addition, the effect of the mutual saturation on the output torque is also demonstrated. It shows that a change of the phase winding connections can increase the output torque.