This study presents three different magnetization models for identifying unknown magnetization of the ferromagnetic thin plate of a ship. First, the forward problem should be solved to accurately predict outboard magnetic fields due to the magnetization distribution estimated at a certain time. To achieve this, three different modeling methods for representing remanent magnetization (i.e., magnetic charge method, magnetic dipole array method, and magnetic moment method) were utilized. Material sensitivity formulas containing the first-order gradient information of an objective function were then adopted for an efficient search of an optimum magnetization distribution on the hull. The validity of the proposed methods was tested with a scale model ship, and field signals predicted from the three different models were thoroughly investigated with reference to the experimental data.