Effect of mechanical stress on the magnetic loss of electrical steel sheets is analyzed utilizing the statistical loss theory. The focus of the study is on the variation of the excess loss component with the applied stress and its correlation with the hysteresis loss. The model and its correlation are validated by performing comprehensive measurements at various combination of induction levels, frequencies and stresses. It is found that the excess losses can be modeled with sufficient accuracy by their correlation with the hysteresis losses over a wide range of stresses, frequencies and flux densities.