A MIMO test system is provided that performs non-cable-conducted, over-the-air radiated calibration and test modes of operations. A DUT is located in an anechoic chamber having a plurality of probe antennas disposed therein. During the calibration mode, the test instrument causes predetermined signals to be transmitted over a transmission channel comprising a non-cable-conducted, OTA interface between probe antennas of the chamber and antenna ports of the DUT and obtains measurements of received power and relative phase. The test instrument uses the measurements to construct a radiation channel matrix associated with the transmission channel and obtains an inverse matrix of the radiation channel matrix. During the test mode, the test system performs a non-cable-conducted, OTA radiated test during which the test instrument applies the inverse matrix to DUT performance measurements obtained by the test instrument to calibrate out the radiation channel matrix from the DUT performance measurements.