Illustrative embodiments of systems and methods for wireless magnetic tracking are disclosed. In one illustrative embodiment, a wireless magnetic tracking system may include a plurality of transmitting coils each configured to generate a magnetic field when energized, an active transponder configured to simultaneously (i) obtain measurements of the magnetic field when one of the plurality of transmitting coils is energized and (ii) transmit a wireless signal containing data concerning the measurements, and a computing device configured to (i) cause each of the plurality of transmitting coils to be sequentially energized, (ii) receive the data concerning the measurements, and (iii) determine a position and an orientation of the active transponder relative to the plurality of transmitting coils in response to the data concerning the measurements.