A novel analysis for a new type Variable Reluctance Resolver (VR-Resolver) with toroidal windings is presented in this work. The resolver with various windings configurations as well as different rotor structures is considered for analysis. Position error of the resolvers in both healthy and eccentric cases are studied, where the effect of the eccentricity fault is analyzed for the resolvers with various windings configuration and rotor shapes. Hence, the analysis of the manufacturing tolerance due to the eccentric rotor is obtained by several analyses. Noticing the Magnetic Equivalent Circuit (MEC) method’s flexibility as well as in regards to the analysis of the several structures, a well-known flexible MEC-based method with adjustable accuracy is considered for modeling. Hence shorter processing time and more flexibility compared to Finite-Element-Method (FEM) are needed. Finally, the effectiveness of the presented works is proved by the performed validation via both FEM and experimental results.