A multiparameter magnetic inspection system for providing an efficient and economical way to derive a plurality of independent measurements regarding magnetic properties of the magnetic material under investigation. The plurality of transducers for a plurality of different types of measurements operatively connected to the specimen. The transducers are in turn connected to analytical circuits for converting transducer signals to meaningful measurement signals of the magnetic properties of the specimen. The measurement signals are processed and can be simultaneously communicated to a control component. The measurement signals can also be selectively plotted against one another. The control component operates the functioning of the analytical circuits and operates and controls components to impose magnetic fields of desired characteristics upon the specimen. The system therefore allows contemporaneous or simultaneous derivation of the plurality of different independent magnetic properties of the material which can then be processed to derive characteristics of the material.