A novel permanent magnet (PM) linear oscillatory actuator (LOA) of moving-iron and non-salient pole was presented on the basis of LOA research. The mathematical model of the LOA based on the magnetic circuit method was established, and derived the relationship between electromagnetic thrust and coil current, mover’s displacement. The thrust of LOA was simulated by the Finite Element Method (FEM). The corresponding experimental results verifies the electromagnetic thrust is direct proportional to coil current and reverse proportional to mover’s displacement during effective mover’s displacement. So the derived mathematical model based on the magnetic circuit method is correct. This conclusion provides a theoretical basis for the further calculation of thrust, the selection of control current and the design of controlling method.