A magnetometer configured to measure low field strength magnetic fields is provided. Certain embodiments of the magnetometer include a cylindrical coil assembly having a variable permeability core and terminals disposed at both ends. A current source circuit may be operably connected to the terminals and configured to apply a voltage controlled current across the terminals. A voltage readout circuit may be operably connected to the terminals and configured to measure a voltage across the terminals due to the applied current from the current source. An inductance of the coil assembly directly varies as an ambient magnetic field strength varies a permeability of the variable permeability core, and a voltage across the terminals varies directly with the inductance such that the measured voltage across the terminals is a direct measure of the ambient magnetic field strength.