The discrete torque generation mechanism and inherently nonlinear magnetic characterization of switched reluctance motors lead to unacceptable torque ripples and limit the application of these motors. In this study, a phase current profiling technique and torque sharing function are proposed in consideration of magnetic saturation effects and by minimizing power loss in the commutation area between the adjacent phases. Constant torque trajectories are considered in incoming and outgoing phase current planes based on nonlinear T-i-theta curves obtained from experimental measurements. Optimum points on constant torque trajectories are selected by improving drive efficiency and minimizing copper loss in each rotor position. A novel analytic invertible function is introduced to express phase torque based on rotor position and its corresponding phase current. The optimization problem is solved by the proposed torque function, and optimum torque sharing functions are derived. A modification method is also introduced to enhance the torque ripple-free region based on simple logic rules. Compared with conventional torque sharing functions, the resultant reference current from the proposed method has less peak and effective values and exhibits lower copper loss. Experimental and simulation results from a four-phase 4 KW 8/6 SRM validate the effectiveness of the proposed method.