A method for determining parameter values of an induction machine. The method may be executed by a dedicated computer system. The method includes sampling a voltage signal, a current signal and a rotational speed signal of the induction machine at the time the induction machine is started, calculating a resistance and a reactance of the induction machine at each of a plurality of slip rates according to the voltage signal and the current signal, calculating a plurality of coefficients of a polynomial fraction based on the resistances and the reactances, calculating the parameter values of an equivalent circuit according to the plurality of coefficients of the polynomial fraction, calculating a moment of inertia and a friction coefficient of the induction machine according to the calculated parameter values and the rotational speed signal of the equivalent circuit, and outputting the moment of inertia and the friction coefficient of the induction machine.