The main aim of this paper is to expound high-efficiency operation of Switched Reluctance Generator (SRG) based on the current waveform. For this purpose, theoretical analysis of the copper loss and iron loss of the system is done first. Then, necessary simulation is done to find the variation trend of the copper loss and iron loss with the variation of the current waveform at the same output power. Finally, the best current waveform which can make the system operate with high efficiency is obtained by considering the influence of these two kinds of loss. In order to verity the simulation results, the experimental platform of DC motor-SRG is built and the modified angle position control (APC) method which can specify the current shape optionally is presented. By comparing the system efficiency at the three kinds of typical current waveform, the correctness and feasibility of the theory is verified. The proposed method is simple, reliable, and easy to achieve.