The determination of equilibrium configurations of MHD plasmas in tokamak-type reactors is quite important in fusion energy research. This paper presents finite element analysis of ideal axisymmetric MHD equilibria in torus regions governed by the Grad-Shafranov equation. The authors employ a simplified model equation, where the nonlinear term is positively homogeneous in the magnetic flux function. Then the problem becomes a nonlinear eigenvalue problem for a semi-linear elliptic equation with two parameters, and the boundary between the vacuum region and the plasma region may be regarded as a free surface which is not known beforehand.