Until recently, high frequency (1 MHz) testing of magnetically soft materials has been typically limited to measurement of core loss and peak or inductive ac permeability. A high frequency hysteresisgraph allows direct examination of the hysteresis loop and calculation of values for magnetic parameters such as coercivity (Hc), peak permeability (μp), remanence (Br), core loss (Pc,Pcv,Pcm), bias drive field strength (Hbias), maximum H drive (Hmax) and maximum or saturation induction (Bmax). This paper describes the methods used to construct and calibrate a commercial high frequency magnetic hysteresisgraph which is capable of recording the primary current and secondary voltage waveforms of magnetic cores driven at up to 1 MHz. A system accuracy of 2% (for B and H parameter values) and 5% (for core loss) was achieved through careful control and calibration of signal phase shifts within the circuitry. System calibration, magnetic field calculations, and use of FFT post-processing of the acquired waveforms are discussed. The ability to accurately record the hysteresis loop of a material at 1 MHz allows high frequency core materials to be characterized not only by core loss and permeability, but by their hysteresis loop shape, coercivity, and remanence, both under pure ac and dc biased ac drive conditions. Changes in material characteristics due to dc biasing, temperature variations, defects, or mechanical stresses can be readily observed and described in terms of changes to the hysteresis curve shape.