The eddy current brake has the advantages of no frictional contact or hydraulic fluid, high structural reliability, etc. The existing linear eddy current brakes are mostly flat type. A cylindrical permanent magnet eddy current brake is proposed in this paper, whose air gap magnetic field is generated by a series of ring-shaped permanent magnets and guided by iron pole to conductor layers, and can achieve higher air gap magnetic flux density. This paper introduces its basic structure and working principle. In order to obtain the analytical model of magnetic circuit design, the equivalent magnetic circuit method is used to analyze and derive the magnetic circuit, and it is verified by the axisymmetric finite element model. To derive the braking force generated by the eddy current brake, the layer theory approach is applied. The influence of electromagnetic parameters on the force characteristic is obtained by finite element numerical calculation, which provides a theoretical basis for the optimal design of the eddy current brake