In this paper, we analyze the errors associated with magnetic field interference for fiber-optic current sensors working in a three-phase electric system and provide a solution to compensate the interference. For many practical conductor arrangements, the magnetic filed interference may cause errors unacceptable for the accuracy requirements of the sensors. We devised a real time compensation method for the interference by introducing geometric and weight factors. We realized the method using simple electronic circuits and obtained the real time compensated outputs with errors of ±1%.