We investigated the characteristics of a flux-lock type superconducting fault current limiter(SFCL) considering magnetization characteristic of iron core. The flux-lock type SFCL, like other types of SFCLs using the iron core, undergoes the saturation of the iron core during the initial fault time. Therefore, if the design to prevent the saturation of the iron core is considered, the effective fault current limiting operation can be achieved. Through the analysis for its equivalent circuit including the magnetization characteristic of the iron core, the limiting impedance of the flux-lock type SFCL was drawn. The magnetization currents and the limited currents of SFCL, which were dependent on the winding direction and the turns' ratio between two coils, were investigated from the short circuit experiment. It was confirmed that their experimental results agreed with the analysis ones.