A new type of paramertic motor using a laminated iron core is proposed. The stator of the motor is formed from a stack of oriented Si-Fe laminations (0.23mm thick × 50 laminations) and is composed of a magnetic path with four legs and two rings connecting the ends of those legs. The width of the inner ring is narrowed so that magnetic flux can be saturated to cause a parametric oscillation in the stator. In this paper, the fundamental performance characteristics of the motor are discussed. The input and output characteristics of the motor are also analyzed, using the equivalent circuit of the asymmetric two-phase induction motor. The calculated characteristics agree well with the experimental values in the regions of the slip.