A semiempirical method for predicting the damping efficiency of hysteresis rods on-board small satellites is presented. It is based on the evaluation of dissipating energy variation of different ferromagnetic materials for two different rod shapes: thin film and circular cross-section rods, as a function of their elongation. Based on this formulation, an optimum design considering the size of hysteresis rods, their cross section shape, and layout has been proposed. Finally, the formulation developed was applied to the case of four existing small satellites, whose corresponding in-flight data are published. A good agreement between the estimated rotational speed decay time and the in-flight data has been observed.