A depth and other characteristics of a ferromagnetic impurity in a workpiece of nonmagnetic material can be determined after demagnetizing of the workpiece by magnetizing the workpiece in a uniform field, preferably to saturation, and thereafter taking measurements of the field strength from the impurity at two different distances, forming a quotient or ratio of the measured values and determining the depth from a curve in which the signal ratio or quotient is plotted against the depth.