We derive loop equations for the one-link correlators of gauge and sca
lar fields in the Kazakov-Migdal model. These equations determine the
solution of the model in the large-N limit and are similar to analogou
s equations for the Hermitian two-matrix model. We give an explicit so
lution of the equations for the case of a Gaussian, quadratic potentia
l. We also show how similar calculations in a non-Gaussian case reduce
to purely algebraic equations.