The paper contains an original comprehensive review of finite element analysis (FEA) applied by researchers to calibrate and improve existing and developing electromagnetic non-destructive testing and evaluation techniques, including but not limited to magnetic flux leakage (MFL), eddy current testing, electromagnetic-acoustic transducers (EMATs). Premium is put on the detection and modelling of magnetic field, as the vast majority of ENDT involves magnetic induction, either as a primary variable MFL or a complementary phenomenon (EC, EMATs). FEA is shown as a fit-for-purpose tool to design, understand and optimise ENDT systems, or a Reference for other modelling algorithms. The review intentionally omits the fundamentals of FEA and detailed principles of NDT. Strain-stress FEA applications in NDT, especially in ultrasonography and hole-drilling methodology, deserve as well a separate study.