System and method for detecting turn-to-turn faults in one or more windings of various objects are provided. In one implementation, a fault detector receives a set of current measurements associated with a transformer and uses these measurements to execute a procedure for detecting a turn-to-turn fault in the transformer. The procedure can include dividing a steady-state differential current value by a steady-state voltage value to obtain one or more compensating factors, determining a magnetizing current amplitude indicator by multiplying the steady-state voltage value by the one or more compensating factors, determining a compensated differential current value by combining the steady-state differential current value with a modifier value that incorporates the magnetizing current amplitude indicator, comparing the compensated differential current value against a threshold value, and declaring an occurrence of the turn-to-turn fault in the transformer when the compensated differential current value exceeds the threshold value.