This paper presents analytical methods to calculate the equivalent circuit parameters for large-scale brushless doubly fed machines (BDFMs) with magnetic wedges utilized for closing stator open slots. The use of magnetic wedges reduces the magnetizing currents in the machine, reflected in the values of magnetizing inductances, but also increases leakage fluxes affecting the value of series inductances in the equivalent circuit. Though such effects can be modeled by numerical models, the proposed analytical methods are particularly helpful in optimizing machine design, inverter rating, reactive power management, and grid low-voltage ride-through performance. The conventional analytical methods cannot be readily applied to the BDFM due to its complex magnetic field distribution; this paper presents analytical methods to calculate the magnetizing and leakage inductances for the BDFM with magnetic wedges used in the stator slots. The proposed methods are assessed by experimentally verified finite-element models for a 250 kW BDFM.