To improve the design of electric drives and to better predict the system performance, numerical simulation has been widely employed. Whereas in the majority of the approaches, the machines and the power electronics are designed and simulated separately, to improve the fidelity, a co-simulation should be performed. This paper presents a complete coupled co-simulation model of synchronous reluctance machine (SynRel) drive, which includes the finite element model of the SynRel, the power electronics inverter, the control system, and application examples. The model of SynRel is based on a finite element model (FEM) using Simcenter MagNet. The power electronics inverter is built using PLECS Blockset, and the drive control model is built in Simulink environment, which allows for coupling between MagNet and PLECS. The proposed simulation model provides high accuracy thanks to the complete FEA-based model fed by actual inverter voltage. The comparison of the simulation results with experimental measurements shows good correspondence.