This study was designed to evaluate femoral perfusion after pulsed electromagnetic field (PEMF) stimulation in a steroid‐induced osteonecrosis rabbit model by dynamic contrast‐enhanced magnetic resonance imaging (DCE‐MRI). Steroid‐induced osteonecrosis was produced by single intramuscular injection of methylprednisolone in 15 rabbits. Eight rabbits underwent PEMF stimulation (PEMF group) and seven did not (control group). DCE‐MRI was performed before PEMF stimulation, immediately before steroid administration, and 1, 5, 10, and 14 days after steroid administration. Regions of interest were set in the bilateral proximal femora. Enhancement ratio (ER), initial slope (IS), and area under the curve (AUC) were analyzed. ER, IS, and AUC in the control group significantly decreased after steroid administration compared with before administration (P < 0.05). In PEMF group, IS significantly decreased; however, ER and AUC showed no significant differences after steroid administration compared with before. ER and IS in PEMF group were higher than in control group until 10th day, and AUC was higher until 5th day after steroid administration (P < 0.05). PEMF stimulation restrains the decrease in blood flow after steroid administration. Bioelectromagnetics. 36:349–357, 2015. © 2015 Wiley Periodicals, Inc.