This paper studied the non-friction rotating permanent magnet eddy current brake technique, which was used on nonpowered vehicles. Based on the theory of eddy current brake, the rotating permanent magnet eddy current brake was designed according to the structure of CRH2 EMU’s trailer bogie. The dynamic analyses of rotating permanent magnet eddy current brake was made by ANSYS,the brake’s power at different speeds was calculated. At different numbers of pole pairs, circumferential distances of the pole, thickness of pole pad and gap widths of rotating permanent magnet eddy current brake, the running resistances caused by leakage of magnet field were analyzed. The conclusions got from this article provide some theory foundations for application of the rotation eddy current brake.