A method for monitoring deformations in a tire of a vehicle wheel, the wheel including the tire and a rim, the method including: providing the wheel with at least two magnetic-field emitters mutually disposed so as to yield a composite magnetic field having one or more space portions where at least one component of the composite magnetic field is substantially null; disposing at least one main magnetic-field sensor substantially in one of the one or more space portions; monitoring variation of the at least one component of the composite magnetic field; and correlating the variation with tire deformations. At least one of the magnetic-field emitters is disposed in contact with the tire. A system for monitoring deformations in a tire of a vehicle wheel includes the wheel, the at least two magnetic-field emitters, and the at least one main magnetic-field sensor.