The study has been conducted in the field of improving the metrological support in measuring the magnetic quantities by developing a method and an instrument for measuring the magnitudes of dipole magnetic moments (Am2) and the strength of the low-frequency (50-1000 Hz) magnetic field of the source. A measurement method has been developed that refers to induction, namely the so-called point measurement methods, which involves the use of n primary measuring transducer s located at certain points in the space around the object under consideration. The method is based on the analysis of multipole representation of the magnetic field and the use of twelve induction sensors placed on the equatorial plane and cylindrical surface. This allows excluding the influence of higher-order harmonics and reducing the methodological error of measurements. A system of sensors has been proposed, which are located at points with given linear-angular coordinates and connected in a certain way. In addition, a structural diagram of the measuring system has been proposed. Analytical expressions for the measured parameters-the component of the dipole magnetic moment Mx, My, Mz-have been obtained. The methodological error has been analysed, and it has been proved that the proposed method provides measurement accuracy within 0.1-5.2% at a distance of 1.5...4 of overall dimensions of the source. The errors associated with the inaccuracy of positioning of the sensors have also been analysed. The proposed method, as well as the instrument for measuring the low-frequency magnetic field parameters, are practically intended for measuring external magnetic field parameters, such as magnetic dipole moments and magnetic field strength, which is necessary for monitoring and addressing certain scientific and technological problems in various areas.