Induction heating technologies have been the standard technologies employed in steel making processes because they are clean, they have a high energy density, they are highly the controllable, etc. However, there is a problem in using them; in general, frequencies of the electric circuits have to be kept fixed to improve their power factors, and this constraint makes the processes inflexible. In order to overcome this problem, we have developed a new heating technique-variable frequency power supply with magnetic energy recovery switching. This technique helps us in improving the quality of steel products as well as the productivity. We have also performed numerical calculations and experiments to evaluate its effect on temperature distributions on heated steel plates. The obtained results indicate that the application of the technique in steel making processes would be advantageous.