A free-piston engine generator is a new type of power generating device, which has the advantages of high efficiency and simple structure. In this paper, a linear motor system composed of a moving-coil linear motor with axial magnetized magnets and a H-bridge pulse-width modulation (PWM) rectifier is designed for portable free-piston engine generators. Based on the finite-element model of the motor and physical model of the rectifier, the combined electromagnetic model is presented and then validated by the prototype-tested results. The electromagnetic processes of the linear motor system are simulated. The electromagnetic losses during the standard working cycle are analyzed. Under the rated reciprocating frequency of 50 Hz and the rated reciprocating stroke of 36 mm, the mechanical-to-electrical energy conversion efficiency of 86.3% can be obtained by the linear motor system, which meets the requirement of portable free-piston engine generators.