A simple analysis method for inverter-fed induction motor using F.E.M and harmonic equivalent circuit is proposed. And an optimum shape of rotor slot for 2Hp inverter-fed induction motor is determined by combining the proposed analysis method and an optimization algorithm. Conjugate gradient method is used for the optimization algorithm. The optimization is performed for higher efficiency and reduction of harmonic loss in the inverter-fed induction motor. The optimization results are verified by comparing with those of the time-step F.E.A.