In this paper, an ungrounded coplanar waveguide-based embedded resonator method for microwave substrate characterization was presented. The effective dielectric constant of the structure and the dielectric constant of microwave substrates can be calculated by the measured resonant frequency. The measured insertion losses at resonant frequencies and the 3 dB bandwidth can be used to determine the loaded and unloaded quality factors, including the dielectric quality factor which is related to dielectric loss tangent. The radiation loss and the extra length due to fringing effect caused by the open-end structure were taken into account to improve the extraction accuracy. The experimental unloaded quality factor of the proposed resonator at resonance order 1 reaches 211.3. The extracted dielectric constant and dielectric loss tangent of Taconic TLY at resonance order 1 are, respectively, 2.218 and 9.286×10−4, which are only 0.018 (relatively 0.82%) and 0.286×10−4 (relatively 3.18%) deviations from the datasheet values, respectively. The proposed resonator method is especially suitable for dielectric characterization of newly developed materials with the difficulty of realizing metal via holes, in which case substrate-integrated-waveguide (SIW) resonator methods are not applicable. When comparing with microstrip resonator methods, the proposed method is of higher quality factor, and it is more reliable and economical as well.