Magnet gear transfers a high speed torque of the driving side to a low speed following side. Of course, the torque is amplified as much as a ratio between pole number of magnet gears constituting both sides through ferromagnet modulator. However, the parameters of the overall magnetic system influence the transmitting torque strongly. They include a pole number of permanent magnet, magnet thickness, reducing ratio, harmonic modulator thickness, and open ratio etc. In this paper, the influences of the parameters are analyzed using finite element method tool. By comparison, a desirable design specification is proposed, including a recommended modulator pattern.