The energy regenerative characteristic of vehicle electromagnetic suspension is analyzed based on the power flow. In order to solve the key problem of energy quantification of electromagnetic suspension,a calculation and analysis method of energy conversion efficiency is proposed. A comparative work between the active system,passive system and the maximal output power system is made through computer simulation. It is demonstrated that in the aspect of vehicle dynamics,the active system is superior to the passive system. In the aspect of energy regenerative ability,the passive system is superior to the active system. And the energy regenerated by the active system is more than the consumed energy. So the active system has the ability of powering itself.