Three-phase induction motors are the most used motors in the industrial sector. The magnetic saturation phenomenon is always present in its operation, however, it is not usually included in the performance analisis due to complexity. This paper present a methodology to introduce the magnetic saturation in the electromagnetic field equations, then the equations are solved applying the Finite Element Method (FEM). The methodology allows the transient analysis of the induction motor considering the phenomenon of magnetic saturation, observing that the magnetic saturation introduces oscillations in the transient characteristics of the current and the electromagnetic torque due to the deformation of the waveform of the magnetic field.