Principle of operation of the traditional magnetic pulse compression(MPC) system is described. A magnetic pulse compression system is presented which does not contain external remagnetization circuits that are commonly used in magnetic compressors. To understand the magnetic switch operation in detail and to model the performance of magnetic switch, a Pspice model of the MPC system is designed. Circuit analysis of compressor and charging system accounting for nonlinear processes in magnetic switches is presented. Typical timing diagrams of pulse compressor working on a 500 W resistive load illustrated that in order to realize the desired pulse, 6 ms and 500 ns magnetization period would be required for PT1 and MS1, respectively. Two compression stages suffice to form -27 kV, about 70 ns FW